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 price of beef patties was $5.32 per pound, according to the U.S. Department of Agriculture s national retail report. With the latest round of price cuts, the lowest possible wholesale price for the Impossible Burger is $6.80 per pound, company spokesperson Rachel Konrad said.
The privately held company said it s hitting monthly production records, helping it achieve greater economies of scale. Since 2019, production has increased by six times at plants owned by Impossible and those of its manufacturing partners.
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Impossible Foods has revealed it will be reducing its wholesale prices for the second time in less than a year, coming closer in price to the meat products it imitates. The cut will slash 15% off the company’s plant-based patties and sausages. The company has asked its distributors to implement the savings when selling to supermarkets and restaurants.
The company, headquartered in Redwood City, California, aims to eliminate sales of regular beef. However, Impossible Foods burger patties are still about a dollar more than regular beef, which is sold for around USD2 per pound.
“We experienced skyrocketing growth in 2020, which allowed us to go into high production and to cut our per unit costs,” said the company’s spokeswoman, Rachel Konrad.
If you’re not entirely plant-based and occasionally find yourself deciding between a beef burger or a plant-based option, Impossible Foods just made your decision a whole lot easier. The company just announced its plans to reduce the wholesale cost of its product by 15 percent. Impossible Food’s burger patty already famously mimics the taste of a meat-based burger, and now, with the recent price reduction, the cost of an Impossible product will closely resemble its meat-based counterparts.
Impossible Foods Lower Its Prices by 15 Percent
Earlier this year, Impossible decreased its wholesale price by an initial 15 percent. Now, with the additional decrease bringing the decrease to a total of 30 percent, for the first time, Impossible Food’s product, at 6.80 per pound, will cost less per pound than grass-fed beef. The company intends for the restaurants and grocery stores that sell Impossible’s products to reflect the decrease in the wholesale product’s cost.
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I’ve had my problems with Impossible Foods’ artificial beef. I first tasted it in a burger in 2017, when it appeared temporarily at select bistros around town. The texture was good, but the bright pink center the result of synthetic hemoglobin struck me as creepy, and the flavor was almost like beef, but not quite, which proved equally as distressing. In subsequent years, beef substitutes seem to have improved, or maybe cooks learned to put them into more suitable contexts.
When the White Castle Impossible slider came along, it was just as tasty as the chain’s regular burger; in fact, the fake meat was indistinguishable in its oniony grayness from the original. And more recently, the gloppy vegetarian burger at Pop’s Eat-Rite proved that the greasier and more lush the setting, the easier it is to camouflage the patty’s negative aspects. Pop’s cloaked it in sauteed onions and bright yellow American cheese, something like a Shake Shack burger. And now Impossible and i