The Limited Times

Now you can see non-English news...

Bitter taste: sugar prices are expected to rise by dozens of percent - voila! Of money


Even if sweet is a comfort on days when the news is bitter, don't rely on products that contain sugar. The upcoming price increase is already around the corner and is expected to take effect immediately after Pesach

If you asked to console yourself with something sweet, know that soon the price will jump sharply (Photo: ShutterStock)

"Sweets are also a kind of comfort," sang Sharit Hadad, referring to the place of refuge for many of us in difficult times, such as the one we are going through now.

But even this consolation will soon cost us much more.

The price of sugar jumped by 35% in supply prices, and right after the holiday its price is expected to jump from an average price of 4.50 shekels per kilo to 5.90 shekels per kilo.

Since it is a common raw product in the food industry, the increase in the price of sugar will lead to a horizontal price increase in a large number of products.

According to the data of the "Retail Research Institute", the average price of sugar for the consumer has become more expensive from the month of November 2022 by almost 8%, but the big increase is waiting around the corner of the holy month.

Sugar prices have already jumped by 35% in the supply prices and as of this moment, when all the spotlights are directed to the height of the basket of products for the holiday, the retailers are absorbing the price increase - and not only did they not raise the prices of sugar - some even lowered them to present a profitable basket.

But immediately after the holiday, as mentioned, prices are expected to jump - and the price of a kilogram of sugar is expected to be NIS 5.90 in the marketing chains. In convenience stores and urban stores, it may also reach NIS 6.50. Similar to the increase in the price of fuel, which is followed by a wide wave of price increases,

so The increase in the price of sugar will not only lead to an impact on the price of sugar in our cup of coffee, but on a huge variety of products, sweet drinks, chocolates, sweet snacks, sauces, spreads and even ketchup.

Not only in coffee: sugar has a horizontal effect on the prices of many products (Photo: ShutterStock)

Sugar is affected by the stock market indices of raw materials in the world and changes on a daily basis.

In contrast to the price of fresh chicken and tomatoes, where there are daily changes, sugar is a significant raw material whose commercial consumption is accompanied by agreements for long periods, a deal in which inventory is reserved according to the current price and thus the factory or retailer guarantees the price for an extended period and therefore on the one hand they do not benefit from discounts, but Neither are affected by the price increases.

The sugar market in Israel is controlled by the Sogat company, which is the main producer and marketer of the raw materials for the consumer and institutional market.

Immediately after the holiday, the chains and factories whose agreement is about to expire and will be forced to purchase sugar at a high price, will pass the increase on to consumers.

Israel ranks second in the world in sugar consumption in relation to the amount of calories - about 16% of the total calories, an amount of 170 grams of sugar, which is equivalent to 42 teaspoons of sugar per day.

In relation to the recommendation of the World Health Organization, this amount is 5 times higher for men (up to 8 teaspoons) and 7 times for women (up to 6 teaspoons).

In the updated calculation, about four kg of sugar per person, while in the previous decade the average was more than five kg.

Let's remember: we don't consume sugar as a raw material only, but it is found in most sugary drinks (on which the tax has been abolished, to the dismay of the Ministry of Health experts), processed food products and in most of the treats and sweets and leisure products we consume, so that most of the sugar supply is drained to the food industries and not to home consumption .

As usual with us, we did not receive a price reduction when the price of sugar fell and the shekel strengthened - in the State of Israel only the price increases are reflected in the price of food products.

  • Of money

  • news


  • Sugar

  • Cost of living

  • price increase

Source: walla

All business articles on 2023-03-26

You may like

Trends 24h

Business 2023-06-09T10:52:52.565Z


© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.