Food manufacturer Osem will lower prices of around 35 basic products by 5% to 10% in November, the company announced Monday. Among the products are some of Osem's best-sellers - ketchup, macaroni and spaghetti, chicken soup powder, soup nuts, flour, crackers and soy sauce.
Other Osem Group companies will also lower some prices, including those of Tivall's vegetarian corn products and Tzabar hummus and tehina in 500 gram containers.
Before the Sukkot holiday, the leaders of the summer's cottage cheese protests demanded that Osem, Unilever and Strauss lower prices of a long list of products in an attempt to lower the cost of grocery shopping by 15%. The protest leaders also want the supermarket chains to cut prices by a similar amount.
Osem says it will also give consumers a price break on its Materna baby formula, but that it will be based on coupons. Customers will receive a coupon worth NIS 5 when buying various Materna products.
Osem CEO Aviezer (Gezi ) Kaplan said on Monday that since the outbreak of the social protests over the summer, the company had been debating how to answer the public's wishes in an attempt to help lower prices of basic foodstuffs in Israel. Initially, Osem canceled a price hike planned for July that was supposed to cover higher costs, Kaplan said. Next came Monday's announcement on "setting a basket of products found in every Israeli home and reaching the widest common denominator."
Osem said the price cuts were the central part of its social plan. The company also said it would change its salary structure starting in April 2012 and freeze the salaries of senior executives while transfering the savings to those employees in the firm making less than the average wage. Osem employs some 4,700 workers.
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