Ben & Jerry's is joining the wave of price rises in Israel by putting up the price of its ice cream products by 5%. Unilever is also considering putting up its ice cream prices.
Ben & Jerry's is Israel's third largest ice cream manufacturer in retail sales terms with an 11.5% share worth NIS 170 million annually in an overall market worth NIS 1.5 billion. A 5% price hike could be worth as much as NIS 8 million a year to Ben & Jerry's in Israel.
Unilever, the largest player in Israel's ice cream market, with international brands such as Magnum, Solero and Cremissimo, has told "Globes" that it has not yet decided whether to put up the prices of its ice cream products. Unilever has more than a 40% market share in Israel.
Osem-Nestle, which last week put up the prices of one third of its products, said that it would not be raising the prices of its ice cream products including those of Haagen-Dasz, which it distributes.
Published by Globes, Israel business news - en.globes.co.il - on December 18, 2018
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