Bunge Ltd., world’s one of the largest and oldest grain trading businesses headquartered in White Plains, New York, made an announcement on Monday, the 9th of September 2019, saying that it had purchased 1.6 per cent stake of the fast-growing vegan burger maker Beyond Meat Inc., as the 201-year-old grain trader seemed to be seeking a slice of the booming fake-meat market.
In point of fact, share prices of Beyond Meat rose more than 250 per cent since its initial public offering, while further upside momentum appears to be on the card given the extent of popularity vegan based meats were gaining over the recent past.
More surprisingly, founded as a smaller concept to bring low-cholesterol vegetable proteins to elderly group of the population who are more prone to cardiovascular diseases, Beyond Meat’s market capitalization reached $9.9 billion followed by its public listing on May, which is now higher than Bunge Ltd.’s market valuation, world’s one of the largest grain traders with more than 31,000 employees.
Meanwhile, expressing an out-and-out optimism over the concept of fake-meat or plant-based meats, more healthful for elderly people, president of a nutrition group at Archer Daniels Midland, one of the chief rivals of Bunge’s, Vince Macciocchi said on Monday (September 9th), “I definitely think this is going to continue to drive demand. ”