Make Monopolies Disclose Their Finances, Urges Zahava Gal-On

"Food manufacturers rush to raise prices when global prices of ingredients rise, but when these prices fall, as in 2009-2010, the manufacturers don't lower prices and may even raise them," said MK Zahava Gal-On (New Movement-Meretz ), a member of the Knesset Finance Committee. She accused food companies of using the statistics on price increases in a manipulative fashion.

Gal-On asked Finance Minister Yuval Steinitz to act to require monopolies to release financial reports, even if they are not publicly traded.

MK Zahava Gal-On
Nir Keidar

"The cartelization of the food industry allows manufacturers to raise prices without any relation to the changes in world [food] prices. Whether the price of raw materials rises or falls, Israeli companies know only one direction: Up," said Gal-On.