Retail

Impossible Foods cuts prices for food-service distributors by some 15%

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The Impossible Burger made by Impossible Foods

Source: Impossible Foods

Impossible Foods is cutting its wholesale prices, drawing it closer to achieving price parity with the meat its products mimic.

On average, U.S. food-service distributors will pay about 15% less for Impossible’s burger and sausage alternatives in the second price drop in a year. International distributors in Canada, Singapore, Hong Kong and Macau can also expect to see slashed prices on Impossible products.

Makers of meat substitutes like Impossible are striving to undercut the price of animal products as part of their broader strategy to persuade consumers to choose their products instead. As of Jan. 1, the average…



Source cnbc.com

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