Following the approval of Israel’s Knesset (Parliament) Finance Committee to increase duties on selected food imports, prices of sweetcorn, tinned olives and pickled cucumbers are set to rise.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The committee decided to increase import taxes by 10% on sweetcorn, tinned olives and tinned cucumbers, but to reduce the tax by 30-35% on other foods items, such as fruit juices, lowering tax on dried fruits such as apples and apricots by 20-25%, and to abolish duties altogether on asparagus and industrial citrus concentrates.
A Finance Ministry official explained that the changes in duties “were long overdue, as the Israeli economy had become increasingly exposed to imported foods since 1996, though no changes had been legislated on import duties for foods,” as reported in Haaretz.
