Signs of recovery for Israel's food markets

February 8, 2005, as reported by Israel’s food industry appears to be moving again after three years of stagnation, announced Roni Kobrovsky, the newly appointed chairman of the food division at the Manufacturers Association of Israel. Kobrovsky reported that both local and export markets are showing signs of improvement.

Kobrovsky, president of Coca Cola Israel, added that in 2004, sales of food products on the local market amounted to NIS42bn (US$11.05bn), a 4% increase over 2003. He estimates that sales of food on the local market in 2005 will grow by 6.5%.

Israeli food and drink exports amounted to US$566m in 2004, an increase of 11% compared with 2003. However, food imports rose at an even quicker pace, 15% over 2003, to a 2004 total of US$975m.