USA News Group
Commentary
Issued on behalf of Bee Vectoring
Technologies International Inc.
VANCOUVER, BC, Aug. 19,
2024 /CNW/ -- USA News Group – A new commentary from the
University of Guelph is sounding
the alarm about our fragile food supply chain, that the authors
claim was "built for a world that no longer exists". According to
the UN World Food Program USA, hunger, famine, and rising food
costs are happening around the world. Helping to meet today's
food needs around the world, the World Economic Forum is
applauding advancements in a vast and complex supply chain,
pointing towards a global food market expected to be worth
$9.12 trillion, growing at a CAGR of
6.7%. Among the groups working to better secure the global food
supply chain from crop to plater are innovative companies that
include Bee Vectoring Technologies International Inc. (CSE:
BEE) (OTCQB: BEVVF), Cal-Maine Foods, Inc. (NASDAQ: CALM),
Calavo Growers, Inc. (NASDAQ: CVGW), Darling Ingredients
Inc. (NYSE: DAR), and FMC Corporation (NYSE:
FMC).
One notable innovator that's developing potential game-changing
solutions is Bee Vectoring Technologies International Inc.
(BVT) (CSE: BEE) (OTCQB: BEVVF), which employs
commercially-reared bees to deliver biological pesticide
alternatives directly to crops. This innovative approach is making
strides in the $250 billion crop
protection and fertilizer industry.
BVT is concentrating on the development of
biological agricultural products ("biologicals") designed to
replace traditional chemical pesticides and fertilizers. The
biologicals sector is witnessing remarkable growth, with a
projected compound annual growth rate (CAGR) of 13.3%. This market
is expected to reach a valuation of US$45.3
billion by 2032, according to research from
DataHorizzon.
Most recently, BVT received official approval in
Mexico from the country's health
authority responsible for registration of plant protection
products, COFEPRIS. As per the announcement,
BVT's proprietary Vectorite with Clonostachys
Rosea CR-7 (CR-7) was approved for use as a fungicide on
commercial crops.
"The success of BVT receiving regulatory approval
for its product in Mexico is
consistent with our strategy to focus on increasing the Company's
addressable market through geographic market expansion," said
Ashish Malik, CEO of BVT.
"With US EPA approval in 2019, and now by adding
Mexico COFEPRIS approval
allowing BVT's CR-7 to be sold in Mexico for the first time, we have
significantly increased the market opportunity for commercial sales
of the Company's proprietary biological fungicide."
The approval covers delivery of CR-7 using both bumble bees and
honeybees on various high value crops, including the berry group of
crops and indoor vegetables. Mexico's agricultural sector presents a
significant market opportunity for BVT's natural
precision agriculture system.
In 2019, the country's production included 41,600 acres of
strawberries, 12,100 acres of blueberries, and over 377,000 acres
of tomatoes and peppers. That same year, the U.S. imported fresh
and processed fruits and vegetables from Mexico valued at US$15.6 billion. While Mexico currently spends US$1.3 billion annually on pesticides, a growing
number of growers are shifting toward biological alternatives that
enhance quality, improve food safety, and reduce reliance on
chemicals.
"Having already completed demos with some berry growers in
Mexico, and with the registration
now in hand, BVT is in a great place to secure a
commercial arrangement with a partner to bring our system to market
in Mexico," added Malik.
"Mexico is a strategic market for
BVT – being an export-oriented country where the
growers are keen to adopt low- or no-chemical solutions to fight
diseases and increase crop yields,
BVT's all-natural solution together with the
classification of CR-7 being exempt from residue tolerance in the
US, will provide them with a competitive advantage."
In the past year, BVT has also reached important
milestones, including starting trials in Spain with Agrobío, and partnering with
MBFi in South Africa.
Additionally, BVT achieved its first sale of CR-7 to BioSafe
Systems. Motivated by the successful results from the
Michigan State University trial,
BVT plans to replicate these trials in the coming years
to further confirm the effectiveness of CR-7.
Prior to releasing its Q4 2024 and FY 2024 financial results,
Cal-Maine Foods, Inc. (NASDAQ: CALM) further strengthened
its title of the largest producer and distributor of fresh shell
eggs in the USA by acquiring the
egg production assets of ISE America.
The acquired ISE assets encompass commercial shell egg
production and processing facilities with a current capacity of
approximately 4.7 million laying hens, including 1.0 million
cage-free hens and 1.2 million pullets. The acquisition also
includes feed mills, around 4,000 acres of land, inventories, and
an egg products breaking facility. Additionally, the assets feature
an extensive customer distribution network across the Northeast and
Mid-Atlantic states, with production operations located in
Maryland, New Jersey, Delaware, and South
Carolina.
"We are excited about the opportunity to significantly enhance
our market reach in the Northeast and Mid-Atlantic states with the
acquisition of these assets from ISE," said Sherman Miller, President and CEO of
Cal-Maine Foods. "The added production and distribution
capabilities will allow us to serve new customers and expand
capacity, particularly in the Northeast, which is largely a new
territory for Cal-Maine Foods."
Coming off of the sale of its Fresh Cut business for
$83 million, Calavo Growers,
Inc. (NASDAQ: CVGW) is now even more focused on its flagship
avocado operations, along with its other quality produce that
includes tomatoes and papayas. Prior to the sale, Calavo
reported its Q2 2024 financial results, which included a 16.5%
increase in total net sales from the prior year quart to
$184.4 million, and an 18.9% increase
in its grown segment sales.
"We are pleased to announce that the sale of our Fresh
Cut business has been finalized, which will allow us to focus
on our core avocado and guacamole businesses," said Lee Cole, President and CEO of Calavo
Growers. "We would like to thank the team members of the
Fresh Cut business for their hard work and years of service
to Calavo."
Darling Ingredients Inc. (NYSE: DAR) is an innovative
company that takes material from the animal agriculture and food
industries, and transforms them into valuable ingredients that
nourish people, feed animals and crops, and fuel the world with
renewable energy. Recently Darling announced a target to
reduce Scope 1 and 2 emissions 42% by 2030, which aligns with its
commitment to the Science Based Targets initiative (SBTi).
"Darling Ingredients plays an important role in
circularity. We help entire industries be less wasteful and more
sustainable by providing valuable ingredients that help lower our
customers' carbon footprint," said Randall
C. Stuewe, Chairman and CEO of Darling Ingredients.
"2023 was a year of setting up for continued success, and I'm
excited for the future as we look to further strengthen our
business in a sustainable way."
Back in April, Darling announced it had identified
collagen peptide profiles for targeted health benefits. During
scientific trials, these active collagen peptide profiles
demonstrated that collagen can be beneficial for a variety of
common health and wellness concerns, such as reducing post-meal
blood sugar spike, in a natural way, in healthy individuals.
Leading global agricultural sciences company FMC
Corporation (NYSE: FMC) recently released its Q2 2024 earnings
report, which showcased the company at the higher end of its
guidance range, and led to an update on its full-year outlook.
Within the report, FMC reported revenue of $1.04 billion, up 2% from Q2 2023, and an
adjusted EBITDA of $202 million, up
8% over the same period.
"Demand improved during the second quarter, resulting in a
pronounced increase in our sales volumes, most notably within
the United States and Brazil, despite customers continuing to
actively manage inventory," said Pierre Brondeau, Chairman and CEO
of FMC. "Higher sales, as well as cost benefits from our
ongoing restructuring, led to adjusted EBITDA toward the high end
of our guidance range."
Prior to the report, FMC signed a definitive
agreement to sell its Global Specialty Solutions (GSS)
business to Envu for $350
million. And prior to that, FMC obtained registration
in Brazil for two herbicides
powered by Isoflex active, the company's brand name for a novel
herbicide used in cereals. The two new formulations will provide
growers with new tools to effectively manage herbicide resistance
across a wide range of agronomic practices.
Article Source:
https://usanewsgroup.com/2024/05/06/the-buzz-on-eco-farming-how-bees-are-pioneering-the-future-of-crop-protection/
USA News Group
Editorial Staff
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USA NEWS
GROUP
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(604) 265-2873
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