Multiple regulatory trials in Brazil have proven the efficacy of Rizonema on key nematode species in soybeans and corn. MBI will continue conducting field trials in the 2021 growing season to expand the product label for use in cotton and to include additional nematodes and soil dwelling insects. During the regulatory submission and review process, MBI and Rizobacter agronomists will continue to educate Brazilian growers on the benefits of biological seed treatments to sustainably control yield-robbing pests.
Pending regulatory approvals, Rizonema could be commercially available as early as the 2023 planting season.
“Rizobacter has made a long-term commitment to bring more sustainable crop solutions to South American farmers, with no compromise on performance” said Ricardo Yapur, Rizobacter’s chief executive officer. “Working with a biological leader such as MBI is a great way two companies with common goals and complementary expertise can make a lasting impact on farming practices. With this alliance, growers will be able to improve yield and return on investment while taking even greater care of the earth that sustains us all.”
"Brazil is a key market for expansion as we grow globally with our seed treatment solutions,” said MBI Chief Executive Officer Kevin Helash. “In 2023, we are targeting to have 45% of our sales from seed treatments, and 20% of our sales in Latin America. Rizobacter has decades of experience in the Latin American market and is well established in the seed protection market. Their reputation and infrastructure, combined with MBI’s biological expertise and in-market presence, will provide growers and distributors greater value by converting to a more sustainable alternative.”
The estimated market size of seed treatments in Brazil is expected to reach USD $1.27 billion by 2024. According to Mordor Intelligence, seed treatments overall are projected to grow at an 8.5% compound annual growth rate (CAGR) between 2019 and 2024, with biological options increasing at a faster pace with a projected CAGR of 10.4%. Brazil is the world’s largest producer of soybeans, and a leading producer of corn and cotton.
Rizobacter, a subsidiary of Bioceres Crop Solutions Corp. (NASDAQ: BIOX) is a leading company in the development, manufacturing and commercialization of biological solutions applied to agriculture. Rizobacter is delivering state-of-the-art technologies in 31 countries through its eight subsidiaries and highly-skilled distribution network. Rizobacter’s main product lines are biologicals, adjuvants and specialty fertilizers. Rizoliq TOP®, Rizoderma®, Osmium®, Signum®, Rizoliq LLI®, Rizospray Extremo®, Rizospray Integrum® and Rizostar® are flagship brands of Rizobacter.
Pedro Mac Mullen, Marketing Director
About Marrone Bio Innovations
Marrone Bio Innovations Inc. (NASDAQ: MBII) is a growth-oriented agricultural company leading the movement to environmentally sustainable farming practices through the discovery, development and sale of innovative biological products for crop protection, crop health and crop nutrition. Our portfolio of more than 15 products helps customers operate more sustainably while increasing their return on investment. The company’s commercial products are sold globally and supported by a robust portfolio of more than 500 issued and pending patents. Our end markets include row crops; fruits and vegetables; trees, nuts and vines; and greenhouse production. The Company’s research and development program uses proprietary technologies to isolate and screen naturally occurring microorganisms and plant extracts to create new, environmentally sound solutions in agriculture. For more information, please visit the Company’s website at marronebio.com.
Learn more about Marrone Bio Innovations at www.marronebio.com. We also use our investor relations website, https://investors.marronebio.com, as well as our corporate Twitter account, @Marronebio, as means of disclosing material non-public information, and encourage our investors and others to monitor and review the information we make public in these locations. Follow us on social media: Twitter, LinkedIn and Instagram.
Marrone Bio Innovations Forward Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing MBI’s views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including, the sales potential in South America, weather, the novel coronavirus COVID-19, regulatory and other factors affecting demand for the MBI’s products, any difficulty in marketing MBI’s products in its target markets, competition in the market for pest management products, lack of understanding of bio-based pest management products by customers and growers. Additional information that could lead to material changes in MBI’s performance is contained in its filings with the SEC. MBI is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of current information, future events or otherwise.
Marrone Bio Innovations Contact:
Clyde Montevirgen, Vice President of New Business Development & Investor Relations