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Impossible Foods cuts wholesale prices by 15% for second time in one year

Impossible Foods cuts wholesale prices by 15% for second time in one year
Reuters
1/6/2021
© Reuters/RICHA NAIDU
A banh mi sandwich made with a plant-based Impossible Pork patty at the Impossible Foods headquarters in Silicon Valley
(Reuters) - Impossible Foods Inc, maker of the plant-based Impossible Burger, said on Wednesday it would cut prices for foodservice distributors in the United States by about 15% amid increasing demand for its burgers.
The price cut is its second in a year and the California-based company is asking distributors to pass on the savings to restaurants and consumers.
The Beyond Meat rival has tied up with several restaurants including Burger King, Starbucks and White Castle, and expanded its retail footprint to thousands of stores across the United States last year.

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Impossible Foods cuts wholesale prices for plant-based burger by 15pc for second time in one year

Impossible Foods Inc, maker of the plant-based Impossible Burger, said on Wednesday it would cut prices for foodservice distributors in the United States by about 15% amid increasing demand for its burgers.
The price cut is its second in a year and the California-based company is asking distributors to pass on the savings to restaurants and consumers.
The Beyond Meat rival has tied up with several restaurants including Burger King, Starbucks and White Castle, and expanded its retail footprint to thousands of stores across the United States last year.
With the latest cut, the lowest possible price to distributors for the Impossible Burger would be $6.80 per pound, but it is still significantly higher than ground beef prices which range from about $2 to $3 per pound for low fat and non-organic varieties, according to the United States Department of Agriculture.

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