December 20, 2016

Food Producers in Israel Accused of Gouging with Exorbitant Profits

Tel Aviv - An investigation by "Globes," Israel’s leading business publication, revealed that profit margins by many brand manufacturers “can only be described as crazy.” A check by the Prices website, for example, shows that Israelis pay about $15 for a lb. of wafers, about $30 for a lb. of gum, $17 for a lb. cookies, $11 for a lb. of red bamba, and $19 for a lb. of chocolate. Food manufacturers in Israel are facing growing criticism because of the cost of living. According to Globes, despite a high degree of consumer awareness, however, some companies have managed to stay below the consumer radar. They and other manufacturers are quietly managing to utilize their brand name power, and are using the packaging size to sell products at particularly high prices.