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TSCO - Tesco News Story

233p -0.3  -0.1%

Last Trade - 30/07/21

Consumer Defensives
Large Cap
Market Cap £18.03bn
Enterprise Value £29.99bn
Revenue £57.89bn
Position in Universe 73rd / 1800

Tesco "very keen" for resolution to UK-EU sausage spat

Fri 18th June, 2021 8:59am
LONDON, June 18 (Reuters) - Tesco  TSCO.L , Britain's
biggest retailer, is "very keen" for the UK government and the
European Union to resolve a dispute over whether chilled meat
products such as sausages, produced in mainland UK, can continue
to be sold in Northern Ireland.
    Under post-Brexit trade rules agreed last year, the British
province of Northern Ireland is effectively treated as part of
the EU for customs purposes under a protocol to avoid
politically sensitive border checks with the Republic of
    Britain has not committed to follow EU food safety rules
after Brexit, which according to the EU means chilled meat from
mainland Britain should no longer be sold in Northern Ireland.
    On Thursday Britain asked the European Union for a further
three months to resolve the dispute.  urn:newsml:reuters.com:*:nL2N2NZ2BE
    "We're clearly very keen for the government to find a
sustainable solution for the Northern Irish protocol with the EU
and we're waiting with interest ... we're looking forward to a
resolution," Tesco CEO Ken Murphy told reporters after the group
updated on first quarter trading.  urn:newsml:reuters.com:*:nL5N2NZ4Q2
    He said product availability at Tesco's 50 stores in the
province is currently "really good".
    "Where we have had challenges in terms of bringing product
into the north we have been able to switch to local supply," he
    Murphy said that even if the UK and the EU failed to find a
solution, Tesco would still be able to service its business in
Northern Ireland.
    "We'll be able to supply the vast majority of what we supply
today at competitive prices," he said.

 (Reporting by James Davey; editing by Sarah Young)
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