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Wednesday, January 27, 2021
NEWS OF INTEREST FROM ROBERT ANDJELIC
Great News for Plant-Based Protein Market: PepsiCo and Beyond Meat
PepsiCo Inc. and Beyond Meat Inc. said on Tuesday they would form a joint venture to develop and sell snacks and beverages made from plant-based protein. This is great news today for the protein extraction plants which I have been working with and promoting for the last seven years. The news follows closely on the April 20, 2020 announcement of Nestle teaming up with Burcon NutraScience Corp. in a joint venture to produce similar products. There are six or more protein extraction plants being developed or currently “starting-up” in Manitoba, Saskatchewan & Alberta. This is a great endorsement by the top two food companies in the world regarding plant-based foods & drinks. This is extremely exciting for the future growth and demand for agricultural products, especially for Saskatchewan, as the province produces 90% of Canada’s pulses. For those not familiar with the protein fractionation, or protein extraction, as it is better known, the highest demand will be for yellow peas. Other legumes could be substituted including faba beans, chickpeas & lentils, but the largest component will be yellow peas. My research and discussions with the fractionation plant investors shows me that, when most of the plants are operational, we will require millions of acres of legume production in order to meet their demand for raw products like yellow peas. These are very exciting times in our industry and we are pleased to be on this journey with you.