Impossible Foods Cuts Prices Of Its Plant-Based Meat By 15%

US plant-based meat producer Impossible Foods announced a 15% cut in vegan product prices to distributors as it competes against traditional meat products.

The company asked the distributors to pass the cut on to restaurants. 

Impossible Burger is served at thousands of restaurants across the US, including Burger King and Hard Rock Cafe. 

Last week, Disney Co announced it would serve Impossible Foods’ burgers at its theme parks and cruise liners.

Chief Executive Officer Patrick Brown said: “Our stated goal since the founding of the company has always been to drive down prices through economies of scale, reach price parity and then undercut the price of conventional ground beef from cows. 

“Today’s price cut is just the latest step toward our goal of eliminating animals in the food system.”

The company said the price cuts would not affect its products available at about 150 supermarkets.