Why this new source of protein may soon be on your breakfast plate
Ric Edelman: It's Monday, June 26th. Do you love bacon? We've talked often about the importance of diet here on this podcast. We eat too much meat, too much processed food, but we love bacon. Well, AgTech is coming up with solutions for you. A Dutch company is now making bacon from cells grown in a lab. And in New York, a company called My Forest Foods is making a bacon substitute from mushrooms.
Now, there's a California company called Umaro Foods that's also making fake bacon, and it's making it from seaweed. Seaweed's good for you. It's got protein, iodine and other important nutrients and antioxidants. But seaweed doesn't really taste all that great, according to most people. But this company says they make seaweed taste and feel like bacon.
They start with the seaweed protein itself and then they add chickpea protein, coconut oil, sunflower oil. The coconut oil provides fatty acids and amino acids. The sunflower oil provides fat, and then they add paprika and sea salt for flavor. And to make it look like bacon, they add red radish juice. The result, a little less protein than real bacon, but about the same amount of fat. And when you cook it right, they say you get the crispy but fatty and chewy taste and texture of bacon. The product is already available in restaurants around the US and soon you'll be able to buy it in grocery stores.
Maybe you've even heard of this company. They were on Shark Tank and Mark Cuban offered them $1 million for 7% of the company. Coming next, they say, seaweed for vegan, pepperoni, salami and other cured meats.
AgTech; Agricultural technology. This is all part of exponential technologies in the field of biotech. If this sounds like an investment category that you think has a future - and frankly, you ought to feel that way -you ought to consider the Global X AgTech and Food Innovation ETF. The symbol is KROP. You can learn more about this ETF by going to Global X ETFs.com or talk about it with your financial advisor. Today I'm appearing on a podcast, Something More with Chris Boyd. You can get it wherever you get your podcasts.