US-based Impossible Foods reveals price cuts for Singapore retailers

The price reduction was driven by a surge in sales and production.

Plant-based meat substitute developer Impossible Foods announced price cuts for its international retailers, including Singapore and Hong Kong.

The double-digit, international price cuts would vary by location and apply to all retail products sold overseas, even exceeding 20% in some regions, Impossible Foods said in a statement.

For Singapore retailers, up to 30% price reduction could be achieved.

Currently, the suggested retail prices for Impossible Burger were at $7.33 (US$5.49) per patty and $9.33 (US$6.99) for a 12 oz package.

“Our plan is to reverse global warming and halt our planet’s extinction crisis by making the food system sustainable...we need to make meat better in every way that matters to consumers—taste, nutrition, convenience and affordability,” CEO and founder Patrick Brown said. “We intend to keep lowering prices until we undercut those of ground beef from cows. Today’s price cut is merely our latest—not our last.”

The current price cut and other reductions were made possible by a surge in sales and production this year. “Just one year ago, Impossible Burger was sold in only 150 grocery stores—it's now available in close to 17,000 grocery stores nationwide [which is] a more than 100x increase in 2020 alone,” Impossible Foods said.