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Marrone Bio Innovations Inc (NASDAQ:MBII) and Rizobacter, a subsidiary of Bioceres Crop Solutions Corp (NYSE:BIOX), have announced the signing of an exclusive agreement to distribute foliar fertilizer and plant health technology in Argentina, Uruguay, Paraguay and Bolivia.
South America is well-known for its extensive soybean, corn and wheat production – crops where Marrone Bio’s technology will be an important tool in helping growers increase yield through improved nutrition and plant health.
Demand for biologicals is increasing in the region with an estimated market value of US$1 billion and a projected CAGR of 11%. Adoption of inoculants, biostimulants and biopesticides is rapidly growing, driven by increased farmer awareness and consumer demand for more environmentally sustainable agricultural practices.
READ: Marrone Bio posts rosy 2Q results as sales of biologicals continue to grow
With 43 years of history and a renowned reputation in the South American market, Rizobacter is well-placed to meet the increasing biological demands of growers with this revolutionary plant health product.
“Rizobacter has a strong focus in biologicals and sustainable crop solutions. Our portfolio includes inoculants, soil-applied specialty fertilizers and adjuvants for enhanced foliar applications. This alliance enriches our offering of an integrated crop nutrition program,” said Rizobacter CEO Ricardo Yapur in a statement Tuesday.
Matti Tiainen, co-founder of Pro Farm, a wholly owned subsidiary of Marrone Bio, said that “Rizobacter’s understanding of local growers’ needs, strong distribution network and exceptional talent make them an excellent partner that will allow us to bring biological solutions to more farmers globally.”
The alliance between Rizobacter and Marrone Bio marries complementary portfolios and a strong commitment to research. The result will provide farmers in Argentina, Uruguay, Paraguay and Bolivia with a new solution that will add value to their farming operations.
The product announcement and availability is expected in October 2020.
Based in Davis, California, Marrone Bio holds more than 400 issued and pending patents and has brought six US Environmental Protection Agency-registered biological product lines and one biostimulant to market.
Contact the author: patrick@proactiveinvestors.com
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Published at Tue, 15 Sep 2020 14:45:00 +0000-Marrone Bio and Rizobacter to distribute foliar fertilizer and plant health technology in Argentina, Uruguay, Paraguay and Bolivia
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