Milk price war escalates as Morrisons slashes prices to 24p a pint
Morrisons is the latest retailer to enter the supermarket milk price war after dropping the price of its own brand Meadow Park milk to 84p, equal to 24p a pint, in a bid to under cut its competitors.
In a statement issued this morning, Morrisons claimed the reduction "makes it the cheapest supermarket milk in the UK".
The move follows announcements by Tesco on Monday (3March) to lower the price of a four-pint carton from £1.39 to £1, as part of its plan to trim profit margins to allow for more price promotions.
Sainsbury’s quickly followed, matching Tesco’s prices on Wednesday, with the Co-operative cutting the price of a pint of milk from 50p to 45p. Waitrose yesterday announced members of its loyalty scheme, myWaitrose, would be able to buy four pints for £1.
The price war has been met with concern from dairy farmers, however Morrisons says the price cut will be funded by the supermarket. Category director Steve Mosey said: “We’re looking after families while still looking after our farmers.”
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