Importers and producers in the food market have decided to withdraw their claim to the Supreme Court against the Ministry of Economy. They have agreed to transfer data on the profitability of their products to the price inspector at the ministry. However, the inspector will not be able to publish this data as it is considered a trade secret. Instead, the inspector will use the data to determine excessive profitability in a specific market segment as part of his responsibilities.
Since there are currently no criteria for excessive profitability in Israeli law, the Ministry of Economy will need to define this concept before any action can be taken. Once this definition is in place, the ministry will reach out to the inter-ministerial price commission to discuss the need for state control over pricing for certain goods. They will then work to convince the Ministry of Finance of the importance of including these goods on the list of products subject to state pricing control.
This collaborative effort between the Ministry of Economy, the price inspector, the inter-ministerial price commission, and the Ministry of Finance aims to create a fair and transparent pricing system within the food market. By sharing data on profitability and working together to define and address excessive profitability, the parties involved are taking steps towards ensuring a level playing field for importers and producers in the industry.