November 25, 2013

The price of price-controlled eggs in Israel was reduced by an average of 3.3% or a reduction of ILS0.036 (US$0.01) per egg which took effect on Thursday (Nov 21).

Minister of Finance Yair Lapid and Minister of Agriculture Yair Shamir approved the joint ministries' price committee's recommendation to reduce the price of egg.

The recommendation was submitted in accordance with the protocol for price adjustments, due to changes in the cost of production, particularly the drop in the cost of feed for the egg-laying hens, according to Israel's Globes.

The total price cut on a dozen eggs will be ILS0.40 (US$0.11). A dozen large eggs, which is the most popular size and makes up 50% of the egg market, will cost ILS12.50 (US$3.50) after the price cut, as opposed to the current price of ILS12.90 (US$3.60).