California Water Allocation and Plant-based Meat Sales Plummet
From the Ag Information Network, this is your Agribusiness Update.
**California farmers south of the Sacramento-San Joaquin Delta who irrigate with water supplied by the Central Valley Project say they’re thankful for last month’s 35% water allocation.
But due to the timing and lower crop prices, the initial allocation by the Bureau of Reclamation may not lead to more planted acres.
Stanislaus County farmer Daniel Bays says a lot of it just depends on what we can get contracts for.
**When introduced, plant-based meat was viewed as a major disruptor of the meat industry and would soon displace animal protein.
Brakke Consulting says BeyondMeat went public in 2019 and sales of plant-based meats climbed to $1.3 billion in 2020 was forecast to hit $10 billion or more within a few years.
Turns out plant-based meat costs a lot more to manufacture than beef, pork and chicken and sales have plummeted to under $500 million.
www.agrimarketing.com/s/152995
**The Fertilizer Institute praised President Trump for signing an Executive Order that continues his recognition for the importance of fertilizers to farmers and the overall ag economy.
The action ensures Canadian and Mexican fertilizer imports meeting USMCA preference status will be subject to no duty.
The EO also establishes that potash imports from Canada and Mexico lacking USMCA preference status will have a reduced import tariff of 10%.
