Hurricane Helene Relief and Plant-based Meat Sales Plummet
From the Ag Information Network, this is your Agribusiness Update.
**Ag Secretary Brooke Rollins pledged last week that tens of billions in aid for victims of Hurricane Helene should start flowing soon.
Congress set a deadline of today, March 21 to hand out the money when it passed a $100 billion disaster relief package
back in December.
The September storm cut a swath from Florida’s Big Bend across eastern Georgia and upstate South Carolina before causing historic flooding in western North Carolina and eastern Tennessee.
**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%.
