BREAKING NEWS

Gov't slaps price controls on more dairy products

By GLOBES

DECEMBER 30, 2013 18:13

For the first time since the cottage cheese protest in the summer of 2011, the government has intervened to lower dairy product prices on Monday.

Finance Minister Yair Lapid and Agriculture Minister Yair Shamir signed an order placing price controls on 5% soft white cheese and 38% whipped cream. Following the move the prices of the two products should go down by about 20%.

At the same time prices of dairy products under supervision including milk in sacks and cartons will fall by 1.1%. This is due to changes in production costs less a temporary price hike of 3.5% to consumers and 4% to dairies that was approved in October 2012.

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