Egg Prices to Rise in Israel Amidst Broader Food Cost Increases
Translated & summarized from Calcalist by baba
Egg prices in Israel will rise by 2.1% on November 1st due to increased production costs. This follows a previous 1% increase and a larger 16% jump in 2023. The price hike is part of a broader trend of rising food costs, including flour for bakeries, which is expected to impact bread and pastry prices.
The story in 5 lines · by baba
- Egg prices in Israel will increase by 2.1% starting November 1st.
- The price hike reflects rising production and marketing costs for eggs.
- This follows a 1% egg price increase last year and a 16% jump in 2023.
- Flour prices for bakeries are also expected to rise 11%-14% due to wheat costs.
- Higher flour costs may lead to increased prices for bread and pastries.
Egg prices in Israel are set to increase by 2.1% starting November 1st, adding approximately 27 to 33 agorot per dozen. This price hike will bring the cost of a dozen large eggs to 14.54 shekels and medium eggs to 13.4 shekels. The Ministry of Agriculture attributes the rise to increased production and marketing costs throughout the supply chain, including feed for hens, labor, energy, and packaging.
This automatic price adjustment mechanism, implemented in 2023, operates on a transparent formula and does not require ministerial approval. Prices are reviewed quarterly and can be adjusted up or down if cumulative changes exceed 3% since the last update, or if at least six months have passed since the last adjustment and the cumulative change exceeds 3%, or if a year has passed and the cumulative change exceeds 1%.
The upcoming increase follows a 1% rise in egg prices last year, which itself came after a significant 16% jump in 2023. This egg price hike is occurring alongside a projected 11% to 14% increase in flour prices for bakeries, driven by soaring wheat costs due to the escalation of the Russia-Ukraine war and increased shipping expenses.
While the flour price increase does not directly affect consumers buying flour in supermarkets, it is expected to lead to higher prices for bread, pastries, and other flour-based products.
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