Mega ups prices after Passover

Other retailers have so far passed up the opportunity to raise prices

A survey by mySupermarket for "Globes" has found that the Mega supermarket chain, owned by David Weissman-controlled Alon Holdings Blue Square - Israel Ltd. (NYSE: BSI; TASE: BSI), raised prices immediately following Passover. Other supermarket chains have so far passed up the opportunity to raise prices, and are keeping holiday discounts through the week.

The survey was conducted over three periods: on March 13, three weeks before Passover; Sunday, April 2, a week before the Seder; and on April 7-8, during the holiday period.

Mega lowered the price of a 200-gram jar of Taster's Choice instant coffee from NIS 30 before the holiday to NIS 24.90, and has since raised it back to NIS 30. One-kilogram packages of Sugat Persian rice was cut from NIS 7.90 to NIS 6, and raised back to its original price, and Sugat basmati rice was cut from NIS 14.80 to NIS 7.90, and raised back to original price. The price of a 750-liter the price of a bottle of Osem ketchup was cut to NIS 10 from NIS 11, and since raised back in full. The price of a 750-gram jar of Nutella was cut to NIS 18 from NIS 29, and since raised back to its pre-holiday price.

Shufersal Ltd. (TASE:SAE), Israel's largest supermarket chain, reduced prices on five of the ten items included in the survey. The price of one-kilogram package of basmati rice was cut to NIS 10 for Passover from NIS 16.80, Taster's Choice was reduced to NIS 29 from NIS 31, and a jar of Nutella was cut to NIS 20 from NIS 23.

Independent chain Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI) cut the price of Taster's Choice to NIS 20 from NIS 29.50 before Passover, the price of Sugat Persian rice to NIS 4 from NIS 7, and the price of a bottle of Osem ketchup to NIS 8 from NIS 11.

Independent chain Yainot Bitan cut the price of a jar of Nutella to NIS 20 from NIS 23, but other items were not changed, including a Taster's Choice instant coffee at NIS 30, Tirosh grape juice at NIS 18, and Osem ketchup at NIS 11.80.

Published by Globes [online], Israel business news - www.globes-online.com - on April 11, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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