Asda has lowered the price of bananas to an eight-month low.

Loose bananas now cost 67p per kg ­ 31% less than a fortnight ago.

Asda instigated a round of price cuts last month when it announced it was permanently lowering prices on "core essentials' including bread and milk.
Bananas were cut from 97p to 85p per kilo on 27 July, with Sainsbury's, Tesco and Morrisons promptly following suit.

Asda then led the pack with a further price cut to 74p per kg, with Waitrose lowering its price to 79p.

It is advertising a further reduction to 67p in a national press campaign today.

Last October Asda sparked a banana price war when it gradually cut the price to a 14-year low of 47p/kg. It was price matched by the big four while Waitrose cut its price to 59p/kg.

At the time MD Mark Price criticised Asda for instigating a "pointless game" which he claimed cost his company well over £100,000 per week.

The price of loose bananas had remained stable across the big four at 97p/kg since April until last month.

Read more
Banana wars (29 May 2010)