Updated at 9.35pm

THE PRICE DISPUTE which saw Britain’s famous Marmite spread pulled from supermarket shelves following the plunging pound has been resolved, Unilever announced this evening.

The nation’s biggest retailer Tesco had halted sales of top Unilever brands yesterday including Marmite – the yeast extract which is mostly eaten on toast and is known for the “love it or hate it” slogan.

The pound, which has slumped against the euro and dollar since Britain voted to leave the European Union on 23 June, has placed food retailers in a squeeze between suppliers and consumers.

Jars of Marmite were “currently not available” in the online store of Tesco – the world’s third biggest supermarket chain – after the company reportedly refused Unilever’s request to hike prices.

Unilever demanded the prices of its products be increased in order to offset the cost of imported commodities following the recent fall of the pound, the Financial Times reported (subscription required) citing executives at numerous supermarket groups.

Down to the last three jars of Marmite at a local Tesco pic.twitter.com/DJVm6lhGhC — Nick Sutton (@suttonnick) October 12, 2016 Source: Nick Sutton /Twitter

Other Unilever products including PG Tips tea and Ben & Jerry’s ice cream were also unavailable on Tesco’s online store, but it was the sudden absence of Marmite which prompted national furore.

Fears of impending shortages were abated this evening with Unilever announcing the company had “successfully resolved” the supply situation with Tesco.

“We have been working together closely to reach this resolution and ensure our much-loved brands are once again fully available.

“For all those that missed us, thanks for all the love,” Unilever said in a statement.

British institution

Ahead of the agreement the sudden absence of British institution Marmite had appeared to spark a national crisis, lighting up Twitter with hashtags #marmageddon and #marmitegate.

I think the suffix "gate" isn't serious enough for the gravity of the situation. Perhaps instead of #Marmitegate it should be #marmageddon? — 𝗔𝗶𝗱𝗮𝗻 𝗢’𝗕𝗿𝗶𝗲𝗻 (@artimusfoul) October 13, 2016 Source: Aidan O'Brien /Twitter

Britain’s media seized on the news, with the BBC running a live report, while the Metro daily newspaper splashed with the headline “Marmite wars”.

Accompanied by the motto ‘Love it or hate it’, the dark-coloured spread first hit the shelves more than a century ago from a factory still operating in England.

Made from spent brewer’s yeast, Marmite is usually spread on toast although the company says it can also be used as an ingredient for dishes such as bolognese and French onion soup.

© – AFP 2016