Archer-Daniels-Midland CFO Vikram Luthar Says Shifting Plant-Based Protein Ingredients Production To Higher Demand Products As Meat Alternatives Demand Slumps
Portfolio Pulse from Benzinga Newsdesk
Archer-Daniels-Midland's CFO, Vikram Luthar, has announced that the company is shifting its plant-based protein ingredients production to higher demand products due to a slump in demand for meat alternatives.
October 24, 2023 | 1:26 pm
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NEUTRAL IMPACT
Archer-Daniels-Midland is shifting its plant-based protein production due to decreased demand for meat alternatives. This could potentially impact the company's revenues and stock price.
The shift in production could potentially lead to a change in revenues and profitability depending on the demand and profitability of the new products. This could in turn impact the company's stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Beyond Meat, a producer of plant-based meat substitutes, could potentially be impacted by the decreased demand for meat alternatives.
Beyond Meat, being a producer of plant-based meat substitutes, could potentially be impacted by the decreased demand for such products. This could lead to decreased revenues and a potential drop in stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50