Milk prices to rise again in Israel next week

Israel's Ministry of Agriculture announced today the government controlled price of a liter of milk will rise by 3% on May 1 to NIS 7.23. Milk prices have risen by 16% over the past six months. The price of a 200 milligram tub of sour cream will also rise next week from NIS 2.40 to NIS 2.79.

The Ministry of Agriculture said that the price of raw milk has risen by 12% from its previous price, due to a sharp rise in livestock feed for cows following Russia's invasion of Ukraine last year. An industry source said, "We didn't know the war in Ukraine would go on for so long and that has pushed up prices."

Other components making up the price of milk have also risen. Electricity and fuel prices have risen 10%, according to the Ministry of Agriculture and the salaries index in the food sector has risen almost 9%, while the Consumer Price Index has risen 5.2% over the relevant period.

Published by Globes, Israel business news - en.globes.co.il - on April 24, 2023.