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Current Position:Home » News » General News » Topic

Lack of competition led to rise in food prices in Israel: Report

Zoom in font  Zoom out font Published: 2012-06-06  Origin: FBR
Core Tip: Lack of competition in the food industry in Israel has led to steep rise in food prices in the country, according to a report by government commission.
The Kedmi Committee, which is headed by Industry, Trade and Labor Ministry director-general Sharon Kedmi, was set up by the government one year ago, after consumer criticism over dairy manufacturers.

The report revealed that in 2005, local food prices in Israel were 10% to 20% cheaper than in other member economies of the Organisation for Economic Cooperation and Development; however, by 2010 they were 10% to 20% higher.

An evaluation of 22 categories of food product showed that in 2010, Israel the highest degree of centralization in 11 of them and the second-highest in five.

Two major supermarket chains, Shufersal and Mega, accounted for about 64% market share in the food segment.

The Committee recommended that the government should work to restrict the market share of leading suppliers and retailers, encourage small businesses and eliminate import barriers.

 
 
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