Pig farmers ask: Where is the Tesco money?
By Alistair Driver, Pig World (UK)
June 17, 2022
Ahead of Tesco’s AGM today, pig farmers are questioning whether the extra money pledged by the UK’s biggest retailer will get to them.
Tesco, which posted profits in excess of £2 billion in the last financial year and has today revealed further revenue growth in the most recent quarter, announced in May that it was paying an extra £6.6m to farmers August. Tesco said this will bring its support for farmers to a total of £10m since the start of March 2022.
The retailer, which also said it was taking steps to source more British pork, pledged to work with its suppliers to ensure the investment gets passed to farmers as quickly as possible.
However, unlike other retailers that have pledged money to support pig prices, including Waitrose, Co-op and Sainsbury’s, Tesco has not specified how the extra money will be paid and how it will ensure it gets to producers. For example, it is unclear whether the extra funding simply reflects higher market prices as the SPP rises.
Yet to see benefit ...
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