The answer to the headline question: Maybe Not.
(you're welcome)
From AgFunder:
Plant-based proteins “didn’t benefit” from China’s Covid-19 meat shortages, study says
It appears that producers of plant-based proteins may have a lot more work to do in convincing Chinese consumers that their products are an adequate replacement for animal meat, the findings of a new study suggest.There is of course a huge difference between the Chinese and the American markets but it is something to keep in mind.
Consumer interest in plant-based meat alternatives spiked at the height of the China’s domestic Covid-19 crisis, when its strictest lockdown measures were in force and meat supplies faced significant disruption, the study found.
But the clamor for meat alternatives quickly subsided as the supply of traditional proteins and other food categories stabilized – indicating that companies offering such products need to do more brand-building in the Chinese market.
The research – by advocacy group Food Industry Asia (FIA) and market analysts AI Palette (disclosure: AgFunder portfolio company) – looked at online conversations and interactions to form a picture of consumer sentiment and demand regarding food products between January and March this year, when China’s lockdown measures were at their zenith....MUCH MORE
The other point to consider is a bit o'chartology.
The reason for the May 14 post was the price action with the big range of the red bar completely enveloping the prior day's (green) price range, a pattern known as a bearish engulfing day when it closes lower on the second day:
The price has now dropped to a range where prior days moves have stopped.
And support becomes resistance the next time the broader market trades down.
$131.50 down $2.66 (-1.98%)
