Tesco president: some food suppliers raise prices unreasonably

John Allan, the BBC’s weekly political magazine show on Sundays, stated that Tesco – the largest British retail chain, which has an almost 28 percent share of the British supermarket market – will act “very hard” against what it considers illegal price increases.

He said: Tesco has created a special working group whose task is to monitor food ingredients and raw material costs, and on the basis of this, it calculates whether the cost increases that the suppliers want to enforce are justified. John Allan added that Tesco has already quarreled with many of its suppliers over the objectionable price levels.