Growing More with Less: IMF Highlights Efficiency in Agriculture with Agritech Advances

USA News Group Commentary
Issued on behalf of Bee Vectoring Technologies International Inc.

VANCOUVER, BC, May 17, 2024 /PRNewswire/ — USA News Group – Food production is rapidly evolving. The International Monetary Fund (IMF) underscores the urgent need to “grow more with less,” emphasizing efficiency in agriculture. Artificial intelligence (AI) is revolutionizing the sector by developing new crop varieties, providing vital soil data, and utilizing precision drones for fertilizers and pesticides. To meet the rising demands for sustainable agriculture, agritech innovations are accelerating. The global agritech market, valued at $24.4 billion in 2023, is expected to grow at a CAGR of 12.33%, reaching $49.2 billion by 2031, according to Adroit Market Research. This expansion is fueled by advances in precision farming, biotechnological applications, and the integration of AI and Internet of Things (IoT) technologies, with agritech companies leading the way to ensure future food security, including developments from Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF), Bunge Global SA (NYSE: BG), Archer-Daniels-Midland Company (ADM) (NYSE: ADM), Origin Agritech Limited (NASDAQ: SEED), and Ingredion Incorporated (NYSE: INGR).

An innovative system utilizing commercially-reared bees to deliver biological pesticide alternatives directly to crops is making waves in the $250 billion crop protection and fertilizer market. Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF) is at the forefront of this development, focusing on biological agricultural products (“biologicals”) expected to replace chemical pesticides and fertilizers. According to DataHorizzon Research, the biologicals sector is projected to grow at a compound annual growth rate (CAGR) of 13.3%, reaching a market size of US$45.3 billion by 2032.

Recent progress has been made with BVT’s proprietary biological control agent, CR-7, especially in its use as a seed treatment for soybeans. This advancement highlights CR-7’s compatibility and safety on seeds, propelling it toward commercialization in the agricultural sector.

“Two years of rigorous testing confirmed CR-7’s exceptional safety profile on soybean seeds, showing no signs of toxicity or adverse effects on plant health,” said Dr. Mason Newark, Field Technical Manager at BVT. “These results establish CR-7 as an excellent candidate for seed treatment, given its long shelf life, compatibility with other common seed treatment products, and its safety for use on seeds.”

Research shows that CR-7 maintains a long shelf life when coated on soybean seeds, ensuring extended viability. Additionally, tests have confirmed CR-7’s compatibility with various seed treatment products, including other biologicals and chemical pesticides. Extensive safety evaluations demonstrated that CR-7 does not negatively affect soybean plant germination or growth, confirming its safety and effectiveness in conjunction with other treatments.

“Investing in this research is crucial for understanding the potential market for a CR-7 seed treatment product,” said Ashish Malik, CEO of BVT. “We continue to progress our collaborations with major global multinationals. These are potential partners looking to differentiate their seed treatment portfolio offerings in soybeans, a major global crop that is worth US$155 billion annually and projected to reach US$278 billion by 2031.”

Recent advancements in BVT’s corporate partnerships have led to new international trials and expanded use of the CR-7 biological control agent. A significant achievement includes results from a Michigan State University trial, which showed that CR-7 reduces early disease infection and fungal diseases by over 90% compared to untreated plots, matching the effectiveness of conventional chemical treatments.

In the past year, BVT has reached notable milestones, such as initiating trials in Spain with Agrobío, Mexico with a major multinational grower, and South Africa with MBFi. This period also marked the first sale of CR-7 to BioSafe Systems. Building on the positive outcomes from the Michigan State University trial, BVT plans to replicate these trials in the coming years to further validate CR-7’s efficacy.

A potentially major merger is underway, involving Bunge Global SA’s (NYSE: BG) attempt to acquire Glencore-backed Viterra, which would put the company nearer in scale to rivals Archer-Daniels-Midland Company (ADM) (NYSE: ADM) and Cargill. However, competition concerns in Canada (where the acquisition will take place) are growing louder. As per the deal, the merged-company would be worth $34 billion including debt, building upon Bunge’s status as Canada’s largest processor of canola into vegetable oil and meal, by bringing in Viterra’s seven of the existing 14 crushing facilities in Canada.

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“The new company will be committed to Canadian workers and the transaction will not result in the closure of any Bunge or Viterra facilities in Canada,” said Gregory Heckman, CEO of Bunge in a statement. “That commitment means we are keeping our important office presence in Regina and will continue to employ thousands of Canadians with well-paying jobs across the country.

According to Heckman, the combination of Bunge and Viterra will compete with dozens of grain handling companies that operate hundreds of elevators and numerous terminals in Western and Eastern Canada.

Bunge’s competitor Archer-Daniels-Midland (ADM) is also facing obstacles, as the major food company is undergoing an internal investigation involving its new flavors division Nutrition. However, while this is going on, ADM is moving forward, recently detailing its environmental efforts in reducing greenhouse gases (GHGs), accelerating regenerative agriculture, and other accomplishments in its 2023 Corporate Sustainability Report.

“ADM’s global team of 42,000 colleagues once again delivered on a broad range of sustainability accomplishments in 2023,” said Juan Luciano, Board Chair and CEO for ADM. “What is even more exciting is the opportunity ahead of us. From our expanding leadership role in the decarbonization of the industries in which we operate, to the potential for the bioeconomy to transform how we think about food, feed, fuel and industrial and consumer products, ADM is helping pave the pathway toward a better future for us all.”

Among the achievements in the report, ADM successfully expanded its global regenerative agriculture program, with more than 2.8 million acres in 2023 that sequestered 263,700 metric tons of CO2 and emitted 310,000 fewer metric tons of Co2e. Recently ADM also donated $1 million to Kansas State’s Global Center for Grain and Food Innovation to support advances in food product development, food safety, and food security.

Leading Chinese agricultural technology company Origin Agritech Limited (NASDAQ: SEED) recently announced it had received a GMO safety certificate for its transgenic maize, BBL2-2, marking a new era in crop innovation. The newly certified maize contains two insect-resistant genes, and one herbicide-tolerance gene, creating maize that’s resistant to various pests such as corn borer, cotton bollworm, and armyworm.

“Receiving this GMO safety certificate is a transformative moment for Origin Agritech and agricultural biotechnology in China,” said Dr. Gengchen Han, Chairman and CEO of Origin Agritech. “BBL2-2 exemplifies our capabilities in genetic innovation and sets a new standard in sustainable agriculture. We are eager to lead the commercialization of this technology, which promises significant improvements in crop resilience and yield.”

Looking to make food sweeter, Ingredion Incorporated (NYSE: INGR) has unveiled its new PURECIRCE Clean Taste Solubility Solution (CTSS), derived from the strategic acquisition of stevia supplier PureCircle in 2020. Based on the natural sweetener stevia, CTSS can reduce and replace sugar without the lingering bitter notes typically associated with Reb M stevia.

Ingredion’s stevia sweetener is 100x more soluble than Reb M stevia, and is a one-to-one replacement for sugar, based on the company’s own internal tests.

“Clean Taste Solubility Solution really represents the next step for Ingredion as well as the outgrowth of Ingredion’s investment in the acquisition of Pure Circle,” said Adam Berzins, Senior Manager of Global Sugar Reduction Product Applications at Ingredion. “Pure Circle had a decades-long legacy of innovation in the stevia space. And really, what we have been able to do is, through our deep technical understanding of everything from the leaf agronomy through the production to the practical application in a finished good, understand how to develop these new tools that solve both taste and production challenges.”

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Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

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