Israel’s Ministry of Agriculture and Ministry of Finance announced Wednesday that the price of eggs will rise this month, according to the Globes business news site.
Egg prices are slated to rise by 6.5 percent, due to a rise in the cost of feed for the chickens, among other expenses.
This is the first price hike for eggs in seven years, the ministry said.
The price of a dozen eggs of medium size (M) will increase by 75 ag from NIS 10.40 to NIS 11.15, an increase of 7.2 percent.
The price of a huge-sized egg (XL) will increase by 70 ag from NIS 12.40 to NIS 13.10, an increase of about 6 percent.
The price of a dozen eggs of large size (L) will increase by 6.25 agorot (the Israeli cent) per egg. A dozen large-size eggs will cost from NIS 11.30 to NIS 12.05. This size makes up 50 percent of the market.
The new prices will take effect after the publication of the final recommendation of the Joint Prices Committee and the signing of the order by the ministers.
“The increase in egg prices has been calculated in accordance with the ongoing update procedure of the supervised product that takes into account the changes in egg production and marketing costs since the last update in line with changes in input indices during this period,” the Ministry of Agriculture said in a statement.
“Since the last update, there has been an increase in production costs: the cost of egg production per tower has risen by 9.9 percent following a 17 percent increase in blend prices affected by the rise in world grain prices. In eggs over 70 percent of product cost The marketer’s commission increased by 1.8 percent for retail packaging and by 2.5 percent for institutional packaging, and the retail margin increased by an average of 3.6 percent.”