Israel would reduce high food prices with market liberalization

Food prices are 25 percent higher in Israel than in the European Union, therefore they plan the liberalization of the market – the Iszrael Hajom wrote on Wednesday.

The new law is intended to promote competition in the food industry, especially in the dairy industry that is currently dominated by monopolies and the soft drinks industry. The Minister of Finance has promised to reduce import duties on food products, especially on dairy products. They will also give more import licenses, that will hopefully reduce the prices with about 15 percent. (Shiri Zsuzsa, MTI)