A senior official in Israel's food sector told Israel Hayom on Thursday that due to the war in Ukraine, European suppliers have announced that prices will be increasing.
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"Our suppliers in Europe have notified us about price hikes. They will go up around 20% or more on oils (sunflower, soy, canola), 5%-20% for cheeses, and 15%-20% on various flour-based products – pastas, crackers, cookies, and more," the official said.
"Some international shipping lines have been shut down, so the physical shipments aren't arriving, and anyone who has ordered oils from Ukraine is in trouble because some of those factories don't exist anymore. We thought the price increases would level off toward the middle of this year, but I think price hikes will only increase," he said.
As Passover approaches, some supermarket chains have already reached agreements with suppliers on special holiday deals, which are unlikely to change. However, after the holiday, which begins in mid-April, some chains might wind up announcing that their prices are going up, this time because raw materials have become more expensive.
