GroGenesis
Inc. announced Thursday it will be focusing on
distribution deals in the nascent biostimulant market, a $2.5 billion market
segment of the agricultural industry that is expected to have a 12.5 percent compound average growth rate by 2019.
“We feel the biostimulant market has come a long way in a very short timeframe, and we look forward to working closely with some of the new and innovative technologies just coming to the forefront of the agricultural industry as a whole,” GroGenesis President and CEO Joe Fewer said.
With its flagship products in this area, AgraBurst and AgraBlast, the company will target South American countries as they are a major share holder of the global market. A Ceresana Research study states that crop protection products will likely surpass the $52 million market value threshold by 2019.
“Crop production and remediation products integrated with novel health enhancement programs are looking to be the future of agriculture in an increasingly stressed global environment," Fewer said. "The work we and others like us are doing today should have an immense impact on feeding future generations and we are fully aware that this represents a shifting economic and societal reality that we believe could present great future benefits for our company and shareholders alike.”
AgraBurst uses plant extracts to enhance the fertilizer's effect on growth. AgraBlast provides a non-toxic protection system as opposed to common fungicides, the company states.
More Stories
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Announces one Vacancy on the Citrus Pest and Disease Prevention Committee
- AMERICAN FARM BUREAU FEDERATION: Support Ag Literacy Through the AFB Foundation for Agriculture’s Online Silent Auction
- AMERICAN FARM BUREAU FEDERATION: Farm Bureau: Members Accept Leadership Roles on National Committees
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Office of the Farm to Fork Invites Application for 2021 Farm to School Grants
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Awards Funding to Support Agricultural Education and Leadership Opportunities as part of the Calag Plate Program
- AMERICAN FARM BUREAU FEDERATION: AFBF Welcomes Nomination of Katherine Tai for U.S. Trade Representative
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CDFA Announces Vacancies on Feed Inspection Advisory Board Technical Advisory Subcomittee
- AMERICAN FARM BUREAU FEDERATION: AFBF Stands-Up for Farmers in Predatory Shakedown
- CALIFORNIA DEPARTMENT OF FOOD & AGRICULTURE: CFDA Issues Stop Use Notice and Statewide Quarantine on Organic Fertilizer AGRO Gold WS
- AMERICAN FARM BUREAU FEDERATION: Registration Open for American Farm Bureau Virtual Convention, Featuring Mike Rowe, Rorke Denver and Beth Ford