honey one use

Honey has become cheaper in the major mults over the past year, as wholesale prices have fallen across Europe thanks to surging supplies.

Average prices across 221 honey products listed in the mults - excluding premium manuka lines - have fallen 4% over the past year, from £8.83 per kg to £8.52 [Brand View 52 w/e 11 May 2016].

Many of the price cuts have been on own-label products. Asda, for example, rolled back prices across its range of own-label clear honeys, with the 908g variant reduced by 17p to £2.70, and the 227g variant cut by 5p to £1.13.

Meanwhile, Sainsbury’s cut the price of its 340g own-label clear honey by 10p - from £.150 to £.140 - while Waitrose reduced its 454g own-label clear honey from £2 to £1.87.

However, there have also been price drops on branded honey, with Asda slashing 59p off the 340g Rowse honey range, and Morrisons cutting 59p from selected 340g Gale’s honey variants.

By contrast, prices for manuka honey - which commands a significant premium for its proclaimed health benefits - have risen, but only by a small amount. Average price across 41 listed products in the mults are up 1% (67p) from £49.17 per kg to £49.84.

At a current shelf price of £23, Nuk Raw Manuka Honey 15 Plus 340g is £3 more expensive in Sainsbury’s than it was a year ago, while Steens Honey Raw 20+ Manuka 340g is £5.04 more expensive in Waitrose after a Mix and Match 3 for 2 offer ended.

Other manuka brands, however, have seen prices fall. Asda rolled back the price of Rowse Manuka Honey NPA 10+ 250g from £11 to £9.99 over the period, and Rowse Manuka Honey NPA 15+ 250g from £19.99 to £17. Waitrose and Tesco have taken £3 off the price of Rowse Manuka Honey NPA 15+ 250g, which is now retailing for £16.99 in both supermarkets.

Overall, there were 314 promotions on honey across the big four and Waitrose over the past 12 months, according to Brand View data, with Waitrose running the most, followed by Asda, Sainsbury’s, Tesco and Morrisons.

‘Save amount’, ‘rollback’ and ‘buy 3 get cheapest free’ were the most used promotional mechanisms over the period.

Rowse was by far the most promoted brand, accounting for 58% of total deals across the major supermarkets. Gale’s was second, at 20% of all deals.

Wholesale prices for honey have tumbled by almost 20% in Europe thanks to increased exports from Argentina, where honey prices have fallen dramatically following a strong harvest. Prices in the South American country are currently almost half what they were last year, according to traders.

Low prices for Argentinian honey has forced Chinese exporters to drop their prices. UK honey imports from China increased 11% in 2015 [Mintec].