Israel business Dairy company Tnuva caved in to a nationwide cottage cheese boycott today and announced that they would be lowering the product’s price to the recommended retail price of NIS 5.9.
Tnuva announced that instead of selling cottage cheese to stores at the fixed price of NIS 5.2, they will now sell the cheese for NIS 4.55, thus enabling stores to sell the staple product at the recommended price.
“The Israeli consumer has said his part and proved its power to bring about real and unprecedented change,” Tnuva CEO Arik Shor and Zehavit Cohen, CEO of Apax Partners Israel said in a statement.
The Facebook-run boycott over the hike of cottage cheese prices to over NIS 7.5 last month showed steep declines in sales of the curds in attempt to slash its price.
“Since the revolt started we continued to say that if all links in the chain (the dairy farmers, the milk production plants, the chain-stores) will play their part, it will be possible to reduce the prices of cottage cheese,” they added.
Tnuva guaranteed that they would not raise their prices at least until the end of 2011.