🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

UK organic food sales growth slows - report

Published 04/06/2009, 06:42 AM
Updated 04/06/2009, 06:48 AM
TSCO
-

* Sales of organic food hit across all sectors

* Fruit, bakery products, soft drinks worst hit

(Adds further details)

LONDON, April 6 (Reuters) - Growth in the sales of organic food in the UK slowed to 1.7 percent in 2008, well below the average annual growth rate of 26 percent over the last decade, according to the Soil Association's Organic Market Report.

Sales of organic food in the UK rose to 2.1 billion pounds ($3.13 billion) in 2008, according to the report, which said that sales had been hit across all sectors but that a hard-core of consumers were staying loyal to organic produce.

"This has been a really difficult period for all retail, and organic sales have suffered along with the rest of the economy. But those consumers who are committed to organic products appear to be staying loyal," Peter Melchett, the Soil Association's policy director said in a statement on Monday.

The report said there had been a sharp fall in sales of fruit, bread and bakery products, soft drinks and prepared foodstuffs but that sales of organic food sold at farmers' markets rose 18.6 percent to 23.7 million pounds in 2008.

Asda showed the strongest growth of the chain store retailers, increasing sales of organic products by 25 percent in 2008, while Tesco saw organic sales fall 9.9 percent.

The report said there was a core of consumers who were determined to stick to their organic principles with 36 percent of these committed consumers expecting to spend more on organic food in 2009. ($1=.6702 pounds) (Reporting by Rhys Jones; Editing by Greg Mahlich)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.