Tyson plans to increase demand
Tyson Foods has announced that it plans to increase demands as a long-term strategy, rather than cut production.
In December, the company cut chicken production by 5%, as part of the company's ongoing efforts to "match supply with demand", and executives wanted to know if this meant resuming production at pre-December levels.
The company plans on spurring demand, with an emphasis on fast-growing international markets such as India, and on new product developments.
Tyson has also unveiled several new products for retail, foodservice and international markets:
- A new frozen meal kit for the retail market, called Skillet Creations, which has less sodium than its prior line of meal kits and less sodium than competing brands. Initial products include Asian-style Orange Chicken, Grilled Chicken Fajitas, Grilled Steak Fajitas, Grilled Chicken Tuscany and Penne, and Steak Stroganoff with Noodles.
- New red meat dishes available at retail, including Braised Beef Brisket with Mild Chili Sauce and Pork Loin in Sweet and Tangy BBQ Sauce. The meat is vacuum-sealed and refrigerated, with no added preservatives.
- New offerings for foodservice that look to capitalize on the move toward value, including Homestyle Breaded Value Chicken Tender, Right Size (chicken) Filets, Value Meatball and Shaved Steak Beef.
- For the international market, a fully cooked chicken burger designed for export.
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