Tyson executive: Paleo Diet shows ‘chicken is the right place to be’
Diet trend will lead consumers to protein while high beef, pork prices will lead them to chicken, Tyson Foods' Donnie King says
The Paleo Diet has been a growing trend, leading consumers to eat more animal proteins. That diet, combined with rising costs of pork and beef, will make chicken the "clear winner," Tyson Foods' Donnie King said February 27 during the Bank of America Merrill Lynch Global Agriculture Conference.
King, president of the Tyson Foods Prepared Foods segment, said the company, which processes all three of the major animal proteins will benefit from the growing Paleo Diet trend, where its followers primarily eat meat, seafood, fruits, vegetables and nuts.
"We think protein - chicken, beef and pork -- will be clear winners today. There are a number of health benefits to any type of diet you would want to be on. Most recently, the Paleo Diet, which many are moving to, is very meat-centric. We at Tyson provide very high quality beef, price and chicken," King said.
"We think chicken, beef and pork is the right place to be from a nutrional and wellness standpoint, and chicken in particular we believe longer-term will be the clear winner in the protein space. It's the cheapest, least expensive protein in the market. You can use it as an ingredient, you can use it as an entrée. Chicken is the right place to be long-term. If beef prices continue to move up, if pork prices continue to move up, not only domestically but internationally, the chicken business appears to be the clear winner."
King was joined at the conference by Jon Kathol, vice president of investor relations at Tyson Foods. Kathol discussed the business structure and recent performance of the multi-faceted meat, poultry and prepared foods company.