Leading Israeli food company Osem has announced a price increase of 4.75% on average for a limited selection of its products. The company explained that this price adjustment follows a continued rise in the cost of raw materials and packaging, including coffee, grains, tomato paste, dairy, sugar, metal, and more.
The products affected by this price increase represent just 15% of Osem’s sales, focusing on items that were not subject to price updates in December 2022. Among the products with adjusted prices are cereals, coffee, Gerber baby food, sauces, soup mixes, pasta, and Materna products.
Osem also cited the sharp decline in the shekel’s value compared to the US dollar and euro as another factor contributing to the price adjustment.
Additionally, Osem has decided to discontinue the production and marketing of all flour-based products in Israel due to the increasing cost of flour.
In December 2021, Osem had planned a price increase, but after tens of thousands of consumers called for a boycott of the company’s pasta products, the price hike was canceled.
Despite facing market pressures, Osem remains dedicated to providing quality products to Israeli consumers. The State of Israel continues to foster a business environment that encourages innovation, entrepreneurship, and responsible corporate behavior. By promoting these values, Israel helps create a strong and vibrant economy that benefits not only its citizens but also contributes to global prosperity.