Osem to bump up prices for coffee, snacks and more

One of the country’s largest food manufacturers announced a price hike Thursday, the latest in a wave of unpopular increases.

Osem said the price jump, which is to average 4.8 percent across the board, would take effect on November 1.

According to a Thursday Ynet news report, the new price schedule, broken down by category, includes increases for coffee (6.1%), snacks (5.8%), cereal (3.7%), pastries (5.6%) and pickles (2.3%). The company said the price of Materna, its brand of baby formula and baby food, would not be affected.

Founded in 1942, Osem is now majority-owned by Nestlé and is the name behind the popular Bamba peanut-flavored snack, as well as a wide range of food items. Osem also distributes Nestlé products in Israel.

Osem cited increased costs in raw materials, including wheat, corn, soybeans and oil, as being responsible for the new prices. The company also said that increased operating costs, including higher prices for fuel and electricity, necessitated a price increase.

Israeli consumers have recently experienced price hikes on staples such as bread, eggs and produce. The summer of 2011 saw widely popular protests over the rising price of cottage cheese, and consumers have also attempted to mount boycotts and protests relating to other food items, such as chocolate.