ASDA REDUCES PRICE OF BANANAS TO ALL TIME LOW
Asda has lowered the price of bananas to an eight-month low.
Loose bananas now cost sixty seven pence per kg which is thirty one percent 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.
The price of bananas was chopped from ninety seven pence to eighty five pence per kilo back on the 27th of July, with leading supermarket retailers Sainsbury’s, Tesco and Morrisons quickly following in their footsteps.
An additional price cut was implemented soon after by Asda, reducing the price of bananas down to seventy four pence per kg.
Waitrose then lowered its price to seventy nine pence in a bid to keep its prices as competitive as possible with Asda.
Asda is now advertising a further reduction down to sixty seven pence in a national press campaign of widespread PR.
Back in October last year Asda was responsible for initiating a banana price war when it began gradually cutting the price of the fruit to a fourteen-year all time low of forty seven kg.
At the time the price wars began managing director of Morrisons Mark Price criticised Asda for instigating a “pointless game” which he said lost his company over £100,000 per week.
The price of loose bananas had remained stable across the top four supermarket retailers at ninety seven pence per kg since April until last month.
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