Tesco has announced the launch of Tesco Exchange, a new online marketplace designed to help suppliers offload excess product.

By using Tesco Exchange, more than 3,500 suppliers can cut production costs and reduce waste by finding other suppliers to sell or donate excess stock or products to.

Sarah Bradbury, Tesco quality director, commented: “Excess stock or waste for one supplier could be a valuable commodity to another.”

She continued: “By linking different farmers, producers and manufacturers together, our suppliers can find new ways to trim their bills, reduce waste, and keep delivering great value for our customers.”

The marketplace is the latest in an ongoing programme led by Tesco to help its suppliers tackle waste. The grocer has said it aims to halve food waste in its operations by 2025 and reach net zero across its entire value chain by 2050.

Dr Julian Parfitt, technical director at Anthesis, the sustainability activator and developer of Tesco Exchange, commented: "Tesco Exchange is a great example of an initiative that the food industry needs to embrace and support in order to directly address commitments on food waste, the circular economy, and move towards more sustainable and resilient supply chains."

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