Money: Canada well-positioned to benefit from non-meat alternatives: Beyond Meat founder - PressFrom - Canada
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MoneyCanada well-positioned to benefit from non-meat alternatives: Beyond Meat founder

08:20  12 june  2019
08:20  12 june  2019 Source:   msn.com

Exclusive: Canada says China will increase examination of meat imports

Exclusive: Canada says China will increase examination of meat imports Exclusive: Canada says China will increase examination of meat imports

Canada well-positioned to benefit from non-meat alternatives: Beyond Meat founder© Thomson Reuters Beyond Meat signage is featured on a screen during the company's IPO at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid MONTREAL — The transition from animal meat to plant-based alternatives will unleash a new era of agricultural productivity and Canada is well-positioned to benefit, Beyond Meat founder Ethan Brown said Tuesday.

The burger patties and sausages of the Californian company that are made from plant proteins have stormed the market, and even the stock market since the company's listing last month on the Nasdaq composite.

Beyond Meat sells products made from peas, canola oil, mung beans and rice protein that contain no soy, gluten or genetically modified foods.

Plant-based burger maker Beyond Meat beats forecasts in 1Q

Plant-based burger maker Beyond Meat beats forecasts in 1Q Beyond Meat went beyond expectations in its first earnings report since its stock market debut last month. The plant-based meat maker's shares soared after it beat Wall Street's first quarter earnings and revenue forecasts. Beyond Meat also said it expects full-year revenue to hit $210 million this year, more than double its 2018 revenue and higher than the $205 million analysts had forecast, according to FactSet. "We're being very conservative. I view this as a floor," President and CEO Ethan Brown said. Beyond Meat's shares jumped 15% to $114.27 in after-hours trading. The El Segundo, California-based company lost $6.

Brown took part in a discussion on "The Next Agri-Food Revolution" at the Montreal Conference of the International Economic Forum of the Americas.

In addition to the health benefits of his products, he believes that if water and farmland can be used to grow vegetables and other plant foods, the amount of food for human consumption will be exponential.

He pointed to a study indicating that a plant-based burger requires 99 per cent less water and 93 per cent less arable land to produce, not to mention reducing greenhouse gas emissions.

Canada can take advantage of this windfall, he said, citing the provinces of Manitoba and Saskatchewan, where farmland is vast.

There are so many possibilities with the food products used by Beyond Meat, including yellow peas and mustard seeds.

"You have the ability to grow them in abundance," said Brown, whose father teaches at the Faculty of Agriculture and Environmental Sciences at McGill University.

In Canada, the A&W fast food chain offers a hamburger containing a Beyond Meat patty, which is now available in many grocery stores.

Not wanting to be left behind, Tim Hortons has begun testing three new Beyond Meat lunch sandwiches and could distribute them across Canada by the end of the summer.

Companies in this story: (TSX:QSR, TSX:AW.UN)

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