Israel: Decree abolishing duty on fresh meat and duty – free import quota for olive oil published for comments

The Ministries of Finance and Agriculture published for review and comments a decree on the abolition of customs duties on the import of meat, sausages and meat products and on the opening of a duty-free quota for the import of 6,500 tons of olive oil.

According to ministries, meat prices in Israel are 43% higher than in OECD countries. As with previous duty cuts, the removal of customs duties on fresh beef and other meat products is expected to reduce the price to the consumer and increase consumption. In addition, these measures will expand the range of goods imported into Israel.

The prices for olive oil in Israel are also significantly higher than in the world. The price in Israel is 34 shekels per liter, and in Spain it is 17 shekels. Import quotas will be distributed on a competitive basis based on the final consumer price. The move is expected to bring prices down significantly on the counters. The ministries emphasize that competitive import quotas, previously applied to cheeses and frozen beans, have reduced prices by tens of percent. For example, hard cheese imported through a competitive process is 25% cheaper than the regulated price in Israel.

Finance Minister Avigdor Lieberman said the new decree is a continuation of measures taken in recent months to combat the high cost of living, encourage market competition and lower prices.

“The abolition of customs duties on meat products and the distribution of competitive quotas for olive oil will provide savings for consumers. We will continue to reduce prices and fight high prices,” Lieberman stressed.

Agriculture and Rural Development Minister Oded Forer said Israeli citizens are entitled to a wider range of produce at lower prices. However, he stressed that the reduction in customs duties complements other steps the government is taking in parallel with a significant increase in direct support for Israeli agriculture, encouraging labeling of goods by country of origin and investment in innovation and agricultural technology.

By Editor

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