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    Soaring pea costs set to hit plant-based meat producers

    Plant-based meat companies that use peas as their main ingredient Severe drought Leading suppliers have warned in Canada this year that it has led to higher crop prices.

    Rocket, a French company that processes legumes and counts Beyond Meat as one of its customers, Said This week, the plant protein sector “was facing an unprecedented situation.” The availability of peas is “difficult,” and rising prices “inevitably lead to cost transfers to customers,” the group said.

    Canada’s peas prices have more than doubled as the world’s largest producers fell sharply after the worst drought of the century. Along with Canada, Europe suffers from low yields, and in France, another major pea-producing country, crops have been severely damaged by rain during harvest, Rocket said.

    According to commodity data company Mintech, peas make up only 2% of all plant-based proteins. The fastest growing category Used by food companies. Soybeans are the richest and cheapest source of plant-based protein, but they are also allergens and are often genetically modified in the United States. It’s also rich in plant estrogen, so some consumers are concerned about its negative health effects.

    Brazil, along with the United States, is a major producer of soybeans, but cultivation in Brazil is associated with deforestation and environmental damage. “People see [peas] As a more sustainable product without deforestation and GM issues, “says Marcel Goldenberg of Mintech.

    Following Beyond Meat, food companies such as Tyson and Nestle are looking to peas as a key ingredient in plant-based meat.Nestlé launched again this year Vegetable milk Made from yellow peas.

    Nestlé said inflation is damaging various aspects of production, including raw materials, packaging and transportation. He says he is doing “everything he can do to control these costs in the short term” and is considering gradual long-term price changes.

    Emerging companies that use pea beans as meat substitutes include Meatless Farms in the United Kingdom and NotCo, a Chilean food technology company. “We’ve been talking about how to deal with food inflation,” said Molten Futbeck, founder of Meatless Farm. “Manufacturers don’t have to bear the losses and consumers shouldn’t be forced to higher prices, but we need to discuss how we can pass on some of the costs.”

    In recent years, the production of products such as livestock and meat and dairy products has been affected by the weather and labor shortages, but the rise in crop prices due to droughts around the world is that plant-based meat and milk are immune to the effects. Shows that you can’t of climate change.

    Beyond the meat that feeds and forms McDonald’s joint venture Warning in March with PepsiCo Annual report You may face “decreased availability or unfavorable pricing” of the main ingredient.

    Companies are trying to diversify their protein sources, according to Goldenberg, but this year’s price hike could lead them to choose more soybeans. Henk Hogenkamp, ​​a protein technology advisor at a food company, hopes that food production using soybean, broad bean, and chickpea proteins will limit the increase in pea protein usage.

    Meatless Farm said it is testing hemp, a by-product of CBD oil production, which is also an excellent source of omega 3 and 6.

    Indexed (2014 = 100) global launch column chart showing accelerated launch of new pea protein products

    Soaring pea costs set to hit plant-based meat producers Source link Soaring pea costs set to hit plant-based meat producers

    The post Soaring pea costs set to hit plant-based meat producers appeared first on California News Times.

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