August 6, 2019 / 3:04 AM / 19 days ago

Marfrig, ADM to produce plant-based meat in Brazil

SAO PAULO, Aug 6 (Reuters) - Brazil’s Marfrig Global Foods SA, the world’s largest hamburger producer, said on Tuesday it has reached an agreement with U.S.-based Archer Daniels Midland Co to produce and market vegetable protein products in Brazil.

Grains-trader ADM will be responsible for supplying the main raw material used in the development of the plant-based products. Marfrig said it will produce, distribute and sell the plant-based meat to restaurants and retailers.

“Together, Marfrig and ADM will produce a 100% vegetable burger with a meat-like flavor and texture. We want to give consumers the power of choice. It’s up to them,” Eduardo Miron, chief executive of Marfrig, said in a statement.

The move underscores companies’ need to adapt to changing consumer habits, and makes Marfrig the latest meatpacker to join the fray.

In June, Tyson Foods Inc launched its first vegetarian and mixed-protein products, as it seeks to compete with Beyond Meat Inc. and others catering to rising demand for plant-based alternatives to animal protein.

“The vegetable burger comes to complement Marfrig’s product portfolio and serve all market channels in which we operate,” Miron said. (Reporting by Ana Mano; Editing by Sandra Maler)

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