Fresh produce suppliers could feel the squeeze even more over the coming weeks, as UK supermarkets continue to cut costs on hundreds of lines.
Major supermarkets have all joined in on the act, with Tesco claiming it has slashed prices on 1,000 products, Morrisons saying the cost of 2,000 of its products have been reduced, and Asda declaring cutbacks on 10,000 of its products.
Asda’s Jennifer England told The People: “We are working hard to keep prices low. Reports about increasing prices have been blown out of proportion.”
Fresh produce lines that have seen their prices slashed include strawberries at Sainsbury’s cut from £3.99 to £1.99, cherries at Sainsbury’s priced at £2.99 instead of £4.99, 1kg of Jersey Royal new potatoes at Tesco formerly £3 now costing £1, and a kilo of bananas at Asda cut from 77p to 71p.
Retai analysts are predicting the price war could even eclipse the cost-cutting exercise that ensued after Wal-Mart bought Asda in 1999.
The savings will be worth £700 million for consumers.
No comments yet