The food market is currently facing a challenge as producers and importers have decided to withdraw their claim to the Supreme Court against the Ministry of Economy. Instead, they have agreed to transfer data on the profitability of their products to the price inspector at the ministry. However, this data will not be made public as it is considered a trade secret. The price inspector will only use this information to identify excessive profitability in specific market segments.
As there are currently no clear criteria for determining excessive profitability in Israeli law, the Ministry of Economy will need to establish this definition. Once defined, the ministry will work with the inter-ministerial price commission to persuade the Ministry of Finance to include certain goods on the list of products subject to state price controls.
This process will involve careful consideration and collaboration among government agencies to ensure fair pricing practices in the food market. By gathering and analyzing data on profitability, the government aims to protect consumers from price gouging and promote fair competition among importers and producers.
The goal is to create a level playing field for all players in the food market, ensuring that prices are fair and reasonable for consumers. This process will also help promote transparency in pricing practices, which is crucial for building trust between producers, importers, retailers and consumers.
The Ministry of Economy understands that this process may take time but is committed to working with all stakeholders involved to create a more equitable food market for everyone.
