Someone is selling a jar of Marmite on eBay for £100,000 as the price war between Unilever and Tesco rolls on
Someone is trying to sell a jar of Marmite on eBay for £100,000 amid fears that the stocks may run low due to a supply dispute between Tesco and Unilever.
Tesco has pulled Marmite and all other Unilever brands from its website after Unilever attempted to increase its wholesale prices.
At time of writing Tesco's share price was down 2.46 per cent and Unilever's share price was down 2.17 per cent.
Unilever has demanded price rises of 10 per cent from supermarkets due to the fall in value of the pound after the Brexit vote.
The postage is free (Source: eBay)
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Tesco said this morning that is is running low on household brands due to the dispute, but that there are still Unilever products available in stores. Unilever products on the shelves at Tesco include PG Tips, Ben & Jerry's ice cream and Persil.
It appears Poundland has been using Tesco and Unilever's price war to its own advantage, posting signs in its stores that read: "No shortage of Marmite here!".
Very good 👌🏻 Who needs Tesco? This Poundland store is on the ball re #Marmite #Unilever 😀 pic.twitter.com/W5afG6KYTj
— Retail Barcode (@Retailbarcode) October 13, 2016
Dave Lewis, chief executive of Tesco, is believed to be resisting Unilever's attempt to increase prices because he wants to focus on keeping low prices for consumers.
The stand-off comes after the ex-boss of Sainsbury's said shops in the UK may have to start raising prices due to the weakening of sterling.