The threat of a Marmite shortage in Falmouth's Tesco stores appears to be over after Unilever capitulated in its demands to increase prices by 10% in the wake of Brexit.

Unilever, one of the world's largest consumer goods manufacturers, had been accused of "exploiting consumers" by reportedly demanding a ten per cent price rise after the value of the pound spiralled down last week.

The pricing row with Tesco left the supermarket low on household items such as Marmite, Flora and Persil, after the supplier halted deliveries to the supermarket when it refused.

The stand-off left the supermarket also facing a shortage of brands such as Surf washing powder, Comfort fabric conditioner, Hellmann's mayonnaise, Pot Noodle and Ben & Jerry's Ice Cream.

The move is understood to have hit online sales rather than products in store.

Shoppers trying to buy items from Tesco's website on Wednesday were met with the message "Sorry, this product is currently not available".

It is thought a number of supermarkets are embroiled in the row with Unilever, which earlier this year posted profits of around £2 billion for the first half of 2016.

The food and household goods supplier said: “Unilever is pleased to confirm that the supply situation with Tesco in the UK and Ireland has now been successfully resolved.

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“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.”

A spokesperson for Tesco said: “We always put our customers first and we are pleased this has been resolved to our satisfaction.”

The dispute came on a tumultuous day for the pound on the foreign exchanges, which at one point saw sterling lose almost 1 per cent of its value against the dollar during the course of exchanges in the House of Commons, before staging a rally.

Tesco had a significant rift with Premier Foods, the maker of Ambrosia, Oxo and Mr Kipling cakes, in 2011 when the supermarket refused to stock products after the supplier tried to pass on a cost hike.

Former chief executives of Tesco, Sainsbury's, Asda, Morrisons, Marks & Spencer and B&Q all warned ahead of the EU referendum that a drop in the pound - coupled with supply chain disruption - would cause prices to spike.

The Tesco stand-off with Unilever came hours after former Sainsbury's boss Justin King said shoppers should expect price rises after the fall in the value of the pound since the Brexit vote.

Mr King warned supermarkets would struggle to absorb the rise in the cost of importing goods because of the devalued pound, meaning consumers would face higher prices, The Guardian said.

Speaking at a conference in London on Wednesday, Mr King said: "Retailers' margins are already squeezed. So there is no room to absorb input price pressures and costs will need to be passed on."

He added: "No business wants to be the first to blame Brexit for a rise in prices. But once someone does, there will be a flood of companies because they will all be suffering."