‘Cornflakes Law’ to Go Into Effect Within Two Weeks

Relaxed rules on the import of packaged goods are set to come into effect within the next two weeks, the Knesset Welfare, Labor and Health Committee has decided. The decision was made after the Health, Economy, and Justice Ministries agreed on the plan to move up the relaxation of the rules, which had originally been scheduled to come into effect in four months.

The decision came after Finance Minister Moshe Kachlon demanded immediate implementation of the plan. The various ministries agreed that their staff would make the necessary adjustments in their budget and legal statutes.

The “Cornflakes Law,” as it has come to be known, will sharply reduce the level of import duties on dry imported foods, including pasta, rice, cookies, sweets, crackers and breakfast cereals, among other items. Sponsors of the law, among whom were Kachlon, hope that the increased competition will lower the price of food and the cost of living.