Supermarket giant Tesco has underlined its dominance after posting record profits of £2.55 billion – equivalent to more than £4,800 a minute.
The retailer’s underlying pre-tax profits for the year to February 24 were more than 13% ahead of the previous year, matching analysts’ expectations for the Cheshunt-based company.
Supermarkets are putting pressure on organic food watchdogs to lower standards so they can fully exploit a billion-pound industry which is growing by 30% a year, according to leading figures in the movement.
Fears that organic farming is falling victim to commercial pressures to abandon key principles have led to disputes in the Soil Association, the gold standard of the groups that certify “green” products.
Lawrence Woodward, a pioneer of the organic movement and a former head of the association, told the Guardian many producers were taking advantage of grey areas in the regulations for organic farming, and the public were being conned.