Get ready to pay a lot more: The rise in the dollar exchange rate is expected to affect a variety of consumer areas, such as foodstuffs, toiletries, hygiene, baby products and more.
According to Adam Friedler, CEO of Good Pharm, "The dollar rate is at the disadvantage of everyone who imports, and almost every product is imported. Even if it is not a finished product, it is imported raw materials. I can't think of an industry that it doesn't touch. Even if they say that vegetables and fruits are grown in Israel, then there are the cartons and plastic.
"The rise in the dollar exchange rate is one of the most problematic things in the market right now, and it's very difficult to deal with it. We enjoyed low rates for many years, and now, at a time when it is needed most, the gate is problematic. It's just bad timing.
Shopping cart at the supermarket, photo: Yehoshua Yosef
"The increase can cause prices to rise by up to 10% in the industry, but everyone is making the effort. We are in discussions with companies from abroad and explain the situation, and there are cases where they come our way. We explain the logic to them, and sometimes they give some kind of benefit.
"Importers are in trouble, and the combination with the war is cruel. The companies are hedged for a while, and some of them are sitting on inventory, but as the period lengthens and inventories run out, I'm afraid that this may cause prices to rise in the industry. As far as suppliers in Israel are concerned, no one has contacted us. The mood is bad, and everyone pitches in and lots of workers at cost prices. The market is frozen in this aspect, and no one has the courage to raise prices. It's more likely to happen as time goes on."
"We have no choice"
A source in a company that imports food adds: "As soon as we buy goods from Europe or the US, prices are expected to rise. We try not to bring it up, and we do everything so that it doesn't happen, but in the end there will be no choice.
"Many times we manage to absorb, but in some cases we don't, like the entire market. In terms of products, it's very volatile compared to what's happening in the world, and the chains don't always approve of us. So there is a game in all directions.
The effect of the war also affects the pocket, Photo: AP
"The increase is very variable, and it's a game of the dollar rate. Each product stands on its own. There are transactions of pre-bought raw materials, so everything is flexible.
"The rise in the dollar rate affects every item that arrives in Israel. The product that has become most expensive, and it has nothing to do with the war, is olive oil. But with regard to the dollar exchange rate, everything went up. Every import that arrives in Israel and is priced in dollars or euros - its cost has increased in the past month. That's why we have to absorb it and deal with it. We try not to raise prices, but we can't commit to it over time, or at all. This is a very difficult time for suppliers."
"The dollar will go down in the end"
"We're trying to get along and play with it," the source adds. "Part of it is absorbing. It takes time to raise in front of the networks, and we understand them. Everyone is in this sad situation. With all this, we are working with 80% of the staff, because there is a shortage of workers who are in reserve and the port is not working at 100%. We are all in the midst of this war effort. Now everything is fine, and the dollar will eventually fall."
Photo: Gideon Markowitz Everything is expected to get more expensive soon,
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