Milotal Frozen Vegetables CEO: If there's an alternative to sell Israeli grown corn at higher prices abroad, prices in Israel will naturally rise.
Israeli corn growers predict that the price of corn products will rise by 10-25% within a month, even though most corn consumed in Israel is grown locally and not imported.
Milotal Frozen Vegetables CEO Yair Aloni said, "If there's an alternative to sell Israeli grown corn at higher prices abroad, prices in Israel will naturally rise."
Vita-Galilee Fruit Ltd. (Vita-Pri Galil) (TASE: VITA) CEO Zeev Bironboim said, "Farmers have raised the price of corn along with other crops because the prices of all inputs, including water, fertilizer, and packaging material are being affected by rising global energy prices. Prices in Israel are rising and will continue to do so. There is international demand for Israeli corn and requests to export it, which is why companies will have to decide whether and by how much will be designated for international markets."
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2008
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