Unilever Indonesia Stock Movement: Company Faces Boycott Calls Over Perceived Pro-Israel Stance

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Erlina Fury Santika 13/11/2023 19:17 WIB

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Unilever is among the companies targeted by global boycotts for its perceived affiliation with Israel. Calls for a boycott have intensified as Israel's attacks on Palestine become more widespread.

Unilever Indonesia/UNVR Stock Movement (October 7 - November 13, 2023)

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Unilever Indonesia Stock Movement: Company Faces Boycott Calls Over Perceived Pro-Israel Stance

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Unilever Indonesia/UNVR Stock Movement (October 7 - November 13, 2023)

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The massive Israeli attacks on Palestine since October 7, 2023, have sparked global solidarity actions. One significant action is the boycott of products perceived as supporting Israel.

The Boycott, Divestment, Sanctions (BDS) movement includes Unilever among the companies called for boycott. Unilever is considered to have a long history of supporting Israeli aggression against Palestine.

Back in 2021, one of Unilever's subsidiaries, Ben & Jerry's, decided to stop selling its ice cream in Israeli-occupied territories, including the West Bank. This stance aimed to support Palestine's pursuit of statehood.

"Ben & Jerry's says it will not renew its licensing agreement when it expires at the end of next year. Without sales in the West Bank, among the areas where Palestine is seeking statehood," reported Reuters, as quoted by CNBC Indonesia in July 2021.

This decision sparked outrage in Israel, which viewed Unilever as pro-Palestine. Consequently, Unilever CEO Alan Jope stated that the company remained fully committed to supporting Israel and had invested approximately US$306 million in Israel over the past decade, according to Republika.

Although Unilever has yet to comment on the Israeli attacks on Palestine, the boycott movement against this fast-moving consumer goods (FMCG) company is intensifying.

In Indonesia, the boycott movement is quite strong. This is evident in the comments section of Unilever Indonesia's Instagram, flooded with comments from netizens stating their intention to abandon the company's products.

So, how has Unilever Indonesia's stock (UNVR) performed amidst this intense boycott call?

According to Yahoo Finance, the UNVR stock has experienced fluctuations similar to other stocks.

UNVR's highest achievement during October-November occurred on October 25, 2023, reaching Rp4,080 per share.

However, afterward, the share price plummeted. Specifically, on October 27, 2023, it was recorded at Rp3,980, falling to Rp3,790 on October 30.

It then dropped further to Rp3,620 on October 31, 2023, and to Rp3,580 on November 1, 2023.

Although it slightly strengthened to Rp3,590 on November 2, 2023, UNVR only experienced three price increases between November 1 and 13, 2023.

The latest data recorded Rp3,530 on Monday, November 13, 2023, down from Rp3,590 per share on Friday, November 10, 2023.

(See also: Donation of Rp31 Billion to Israel Condemned, How is Disney's Stock Performing?)

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Unilever Indonesia Stock Movement: Company Faces Boycott Calls Over Perceived Pro-Israel Stance

Unilever Indonesia Stock Movement: Company Faces Boycott Calls Over Perceived Pro-Israel Stance

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Unilever Indonesia Stock Movement: Company Faces Boycott Calls Over Perceived Pro-Israel Stance

Unilever Indonesia Stock Movement: Company Faces Boycott Calls Over Perceived Pro-Israel Stance

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IDX Composite Weakens While Many Stock Sectors Gain (Wednesday, December 3, 2025)

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