Cargill Eyeing Plant-Based Protein Industry

Last week, major meat company Cargill Inc. announced it would sell its last two cattle feeding operations to Nebraska-based ethanol fuel producer Green Plains Inc. for $36.7 million. Cargill spokesperson Mike Martin told media outlet Reuters that the move is part of the company’s strategy to explore alternative investments. While Martin revealed that Cargill will diversify its portfolio with insect, fish, and other animal agriculture operations, the company also plans to invest in plant-based protein. Competitor corporation Tyson has already taken that step with its 2016 investment into vegan company Beyond Meat—helping the company increase its distribution of plant-based Beyond Burger to markets as far as Hong Kong.