November 2, 2021

Strong Shekel Contributes to Rising US Prices

Tel Aviv…In case one wonders why the price of Israeli products is going up, a strong shekel is the answer. Already buffeted by soaring food prices in most categories, the rise in the pricing of Israeli goods is yet another blow to American kosher consumers. Says Globes, Israel’s leading business publication: “The shekel is at its strongest ever level, according to the Bank of Israel's nominal effective rate, which measures the shekel against the basket of currencies of Israel's major trading partners. The shekel-dollar representative rate was set 0.188% lower, at NIS 3.185/$, the shekel's strongest level against the dollar in over 10 months.” Kosher shelves are increasingly filled with Israeli imported foods by such major food importers as Kayco, Lieber’s, Paskesz, Foodco and others.