Impossible Foods is engaging in a new round of price-cutting, trying to bring its plant-based analogue burger patties closer to the price of real beef.
Impossible Foods is engaging in a new round of price-cutting, trying to bring its plant-based analogue burger patties closer to the price of real beef.
The company will charge foodservice distributors about 15% less for its products, hoping that the savings will be passed along to restaurants. It follows another 15% price reduction imposed early last year.
The latest price cuts would put Impossible’s prices at about $6.80 per pound wholesale, according to a company spokesperson quoted by CNBC. That’s 28% more than the average price of beef patties, as determined by the USDA.
Impossible Foods says its increased production is allowing it to achieve economies of scale, setting the stage for the price drop.
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