Tinned food giant Heinz faces backlash after hiking baked beans price by 21p

14 January 2023 , 16:15

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Heinz has hiked the price of baked beans (Image: In Pictures via Getty Images)

Tinned food giant Heinz is facing a backlash after hiking the price of its baked beans.

Britain’s leading brand has put a 415g tin up by 20p in the last year to an average £1.41 – but at least one chain is charging £1.70.

Retail experts warn the food giant could lose out as shoppers go for cheaper supermarket beans.

Independent analyst Richard Hyman said: “If the gap gets too big they’ll lose sales.”

One shopper tweeted: “Heinz baked beans £1.70 in #Tesco today. Disgusting for a tin of a beans.”

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Another wrote: “HeinzUK You’re an absolute disgrace. Why aren’t you ashamed?” Mr Hyman said costs had been severely affected by inflation at 14%.

Independent analyst Richard Hyman said Heinz may lose sales (Michael Clement)

But he added: “If you lose sales by inflating prices too far, will you make more profit? It’s a tough call.”

Meanwhile supermarkets have kept own-brand prices lower. Tesco’s 420g tin is up 50% in a year, but still just 50p.

Morrisons still charges 39p for its 410g tin, the same as in 2021, according to price site trolley.co.uk.

A Kraft Heinz spokesperson said: “Like the rest of the food industry, we continue to face significantly increased production costs – whether it’s ingredients, energy, or packaging – and rising inflation.

"We’re absorbing costs wherever we can however we've unfortunately had to increase our prices to retailers – a measure that continues to remain a last resort.

“To offset some of the pressures consumers are facing, we’re working collaboratively with retailers to offer great value through regular promotions and promotional cycles across a range of our products.

"We’ve adapted our offer to consumers with different pack sizes, value ranges and lower price points. We are also continuing to look for efficiencies in our operations.”

Lou Ellerton, of analyst Kantar, said: “The beans come from North America, so they’ve got transport, UK inflation, plus the drop of the pound against the dollar.

“It’s a pretty vicious combination.”

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