Tnuva milked over NIS 100m excess profit from Israel’s dairy market

11.03.2012                      17.Adar. 5772

Wirtschaft:

Tnuva milked over NIS 100m excess profit from Israel's dairy market

Major Israeli dairy company Tnuva took in over NIS 50 million in monopoly profits, according to two senior economic figures submitting their opinion as part of a class action law suit against the company.

Tnuva took advantage of its monopoly status in the dairy market to rake in NIS 103 million in excess profits in 2009 and 2010, two senior economic figures told the court as part of a class action suit against the company.
Prof. Avia Spivak and Dr. Meir Amir submitted their opinion as part of a NIS 125 million class action filed against Tnuva six months ago. The suit argues that Tnuva abused its position to raise cottage cheese prices by more than 40% between 2006 and 2011….