Tnuva Food Industries Ltd. has caved in to the cottage cheese boycott, cutting the price to retailers by 12.5% to NIS 4.55 per unit from NIS 5.90.
In a statement Tnuva CEO Arik Schor and Tnuva chairwoman and Apax Partners Israel CEO Zehavit Cohen said, "The Israeli consumers have had their say, and proven their ability to instigate unprecedented change in the country.
The organizers of the cottage cheese boycott call on the public not to buy cottage cheese costing more than NIS 5 per container.
Tnuva's announcement follows price cutting announcements by national supermarket chains Shufersal Ltd. (TASE:SAE), Alon Holdings Blue Square - Israel Ltd. (NYSE: BSI; TASE: BSI) brand Mega, and independent chain Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. (TASE:RMLI). Shufersal cut the price of cottage cheese to NIS 5.90 per container, Mega is cutting prices on a range of price-controlled food products by 10%, including butter and sour cream, and Rami Levi cut the price of certain basic goods by 30%.
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