"Long term the issue is not 'Will there be an increase?', it is 'Who will supply?"
A debate was needed, he said, about the true value of food. "We will never be the cheapest. We can be the best."
The Red Tractor was now identified on five billion products, he said. The newly redesigned logo now had a Union Jack and conveyed a clearer message but there was still more to be done.
The Radcliffe Report represented a window of opportunity to make changes, Mr Pearce concluded.