The move comes after Tesco raised its price from 67p/kg to 79p/kg last week, swiftly followed by Waitrose and Sainsbury’s. But Asda, which had also been selling bananas at 67p/kg, raised to just 77p/kg, undercutting Tesco. Morrisons continues to sell at 67p/kg.
The average price for 1kg of bananas across Tesco, Asda, Sainsbury’s, Morrisons and Waitrose is now 76p/kg, 38% higher than it was three months ago.
At the end of September, banana prices hit a low of 55p/kg after Asda cut the prices of key staples. Prices have been moving upwards again ever since Tesco increased its banana price from 55p/kg to 69p/kg at the beginning of November.
Armistice is declared in banana war (20 November 2010)
Tesco quits banana war with 25% price hike (12 Novemebr 2010)