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JBS Closes US Plant-Based Meat Unit on Sluggish Sales

  • Company will focus on plant-based business in Brazil, Europe
  • Weaker demand hits companies that sell alternative proteins

JBS SA, the world’s largest meat supplier, will discontinue operations at its US plant-based unit Planterra and focus on growing markets for alternative proteins in Brazil and Europe.

The shutdown comes amid softening consumer demand for plant-based proteins. Maple Leaf Foods Inc. recently decided to reduce the size of its plant-based segment after a review found demand will grow less than industry experts initially expected. In the US, Beyond Meat Inc. shares have tumbled more than 75% this year in a response to weaker sales.