Israel's treasury devises plan to lower dairy prices

In an effort to lower prices, the Finance Ministry has formulated a plan to open the fresh milk and dairy product market to competition over the next four years, by significantly reducing import duties on those items.

Under the proposal, initiated by the Treasury's Income Tax Authority, import duties would be cut by tens of percent and relaxed quotas would permit the entry of imported products that have until now been effectively barred from the domestic market. The barriers would be removed gradually between 2013 and 2016.