Food maker Osem has become the latest to announce a series of price increases. The company said yesterday that higher prices of coffee and foods will come into effect in a month, on July 1.
Prices of snack foods including Bamba and Bissli will rise by 4%. Prices of the company's baked sweet goods, such as Habayit cookies, will increase by 5%, as will breakfast cereals, breadcrumbs, puddings and jellos.
The biggest increases are for Nestle instant coffee, which will rise by 7%, and Vitaminchik concentrates for juice, 10%.
December 2010 was the last time Osem announced a price increase, and for the same reason: the price increase for raw materials.
In December, Osem announced a price increase that came into effect in January - 3.5% on average. At the time the company said it had avoided increasing prices for more than two years: It had simply accepted the pain of higher raw material costs. But given the trends in the Israeli economy and global commodities markets, it now says it has no choice.
In a year, the price of Osem coffee has risen by 12%. Prices for its cakes have increased by 8%, and the prices of Yotvata dairy products have risen by 5% to 7%.
It's in good company. Among the many firms raising prices are Strauss, whose products become more expensive as of tomorrow, including coffee by 13.5% and cakes by 5%. Tnuva raised prices of dairy products by 5% to 7%.
Others raising prices include Unilever and Hogla Kimberly, which raised the price of Lily toilet paper by 7%.
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