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Israeli Finance Min Implements Import Duty Cuts on Milk to Tackle Severe Shortages

Finance Minister's decision to cancel the customs duty on imported milk for three months is aimed at easing the recent milk shortage in Israel.

Shivam Dwivedi
Israeli Finance Min Implements Import Duty Cuts on Milk to Tackle Severe Shortages (Photo Source: Pixabay)
Israeli Finance Min Implements Import Duty Cuts on Milk to Tackle Severe Shortages (Photo Source: Pixabay)

Israel's Finance Minister, Bezalel Smotrich, announced a significant decision on Thursday, which he believes will have a positive impact on the availability of milk in the country. The minister signed an order to cancel the 40 per cent customs duty imposed on imported milk.

The decision will come into immediate effect and will remain in place for the next three months until after the Jewish holidays in September.

Smotrich emphasized the careful consideration behind this decision, aiming to address the recent shortage of milk on store shelves experienced by the citizens of Israel. The move is seen as a response to the pressing concerns of the public and aims to alleviate the challenges faced by consumers due to the lack of milk supply.

In making this decision, the Finance Minister highlighted the responsibility to safeguard the well-being of all Israeli citizens. He acknowledged the importance of maintaining a healthy supply of milk while also ensuring the continued prosperity of the agriculture sector as a core national and Zionist value.

The decision to waive the customs levied on imported milk is expected to open up new avenues for milk imports, potentially easing the burden on domestic milk producers and distributors. It is anticipated that the increased supply of imported milk will help stabilize the market and bring much-needed relief to consumers.

This move comes at a crucial time when the country is preparing for the upcoming Jewish holidays in September. Ensuring sufficient milk supply during this period is of paramount importance as it is a staple product for many traditional dishes and celebrations.

However, it is essential to note that this decision will be reevaluated after the three-month period. The Finance Ministry will closely monitor the situation and assess the impact of the temporary customs waiver on the domestic milk market.

The Finance Minister's decision has been met with a mix of support and caution from various stakeholders, including domestic milk producers and industry experts. While some applaud the effort to address the current milk shortage, others raise concerns about the potential implications for the local dairy industry.

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