Marrone Bio Innovations, Inc. (NASDAQ:MBII), (MBI), a leading
provider of bio-based pest management and plant health products for
agriculture, turf, water treatment and ornamental markets, has
released new results of field trials in Brazil that show its
products matching or outperforming chemical-based pesticides in key
crops for pesticide use.
“Our biological pesticides yielded excellent
results in recent field trials in Brazil. This is an important
target market for our products due to bioinsecticides’ high market
share and the urgent need for effective pest control solutions,”
said Pam Marrone, MBI’s Chief Executive Officer. “I anticipate a
clear path to completion of the registration process in Brazil, as
the country’s teams of biopesticide regulators review the positive
trial results. We look forward to expanding into Brazil and helping
growers tackle a wide range of unmet challenges.”
The crop protection market in Brazil is the
largest in the world at $9.4 billion USD in 2016, with projected
sales in 2021 of US$10.1 billion1. Key crops are soybeans (50%),
vines, fruits and vegetables (11%), maize (9%), sugarcane (9%),
cotton (7%) and cereals (3%). Fungicides comprise approximately
(30%), insecticides (36%) and herbicides (31%).
The biological pesticide market is small (US$200
million) relative to the chemical market, but it is growing more
quickly than chemicals2. The Brazilian Association of Biological
Control Companies forecasts that biopesticides will grow 15-20%
annually over the next 10 years. One of the reasons for the strong
growth is that the process to register biopesticides is generally
faster than traditional chemical products. The authorities
have established dedicated teams to evaluate biopesticides, using
requirements that differ from traditional analyses3.
Bioinsecticides have the largest market value
and account for half of the market share in 2016. It is also the
fastest growing segment4. Further, suspension of 63 synthetic
fungicide products used for controlling soybean rust by the
Brazilian Ministry of Agriculture in January 2017 is expected to
increase the demand for biofungicide products in the country, as
well as product prices4. The Brazilian anti-soybean rust
consortium, Consorcio Antiferrugem, has called for the approval of
tank mix fungicides to control the major soybean disease in the
country5. MBI intends to test its biofungicide products against
this disease in the future.
Brazil is a key target for MBI’s growth, and
efficacy trials are required as part of the registration process.
Therefore, MBI has conducted many trials in Brazil over the last
three years.
The following is a summary of key data:
CottonFive trials with Regalia®
on cotton, applied twice increased yield an average of 6.7%.
For all rate and timing combinations, Regalia showed an impressive
71%-win rate over the untreated cotton.
Three trials with Grandevo® on cotton for
control of the bollworm Helicoverpa armigera. Grandevo
performed equally well to the biological standard Bacillus
thuringiensis and the chemical standard, zeta-cypermethrin in two
of three locations.
BananasThree trials with
Majestene® on bananas for control of burrowing nematodes: Majestene
reduced nematode populations the same as carbofuran. All
rates, when taken together, significantly increased yield (maximum
was 5%) over the untreated bananas and this increase was equal to
the chemical standard, carbofuran (no longer allowed in the U.S.
due to its mammalian and bird toxicity). At the highest rate,
Majestene was statistically better than carbofuran for yield.
SoybeansSix trials with
Majestene on soybeans for control of lesion nematodes - analyzed
across all sites and for all rates, Majestene was statistically
better for yield (+12-17% at three rates and +30% at the highest
rate) than the untreated beans. At three rates, Majestene was equal
to the commercial standard Avicta® for yield, and at the highest
Majestene rate, was statistically better (13% higher) than Avicta
for yield. At three rates, Majestene was equal to Avicta for
reducing nematode counts in soil.
Three trials with Grandevo on soybean for
control of the caterpillar Helicoverpa armigera.
Grandevo performed equally well to the biological standard Bacillus
thuringiensis and the chemical standard, zeta-cypermethrin in all
three locations.
Citrus (Orange)Two trials with
Grandevo on citrus for Asian citrus psyllid (ACP). Grandevo
at two rates reduced ACP nymphs as well as the commercial standard,
imidacloprid. Venerate® did not reduce nymphs as well as Grandevo
in citrus trials, but the citrus yields after treatment with
Venerate were the same as the chemical treatment, imidacloprid
(~12.6% higher than untreated). In U.S.A. and Mexico trials, both
Grandevo and Venerate have performed well against ACP and are
particularly suited for resistance management programs in rotations
with chemical pesticides.
StrawberriesIn one trial,
Venerate controlled spider mites as well as the chemical standard
and reduced whiteflies by 80%.
Sources: 1Phillips McDougall, AgriService,
2ABC BIO (Brazil Bio Control Association), 3The Brazilian
Association of Biological Control Companies, 4Mordor Intelligence,
2016-2021 Brazil Biopesticides market report, 5Agrow, Agribusiness
Intelligence
About Marrone Bio Innovations
Smart. Natural.
Solutions.Marrone Bio Innovations, Inc. (NASDAQ:MBII)
strives to lead the movement to a more sustainable world through
the discovery, development and promotion of biological products for
pest management and plant health. MBI’s effective and
environmentally responsible pest management solutions help
customers operate more sustainably while uniquely improving plant
health and increasing crop yields. MBI currently has six
commercially available products (Regalia®, Grandevo®, Venerate®,
Majestene®, Haven™ and Zequanox®) as well as eight product
candidates in various stages of the company’s rapid development
pipeline. MBI also distributes Bio-tam 2.0® for Isagro USA in the
western U.S. and Jet-Ag® for Jet Harvest in most regions of the
U.S.
Marrone Bio Innovations is dedicated to
pioneering smart biopesticide solutions that support a better
tomorrow for both farmers and consumers around the globe. For
more information, please visit www.marronebio.com.
Marrone Bio Innovations Forward Looking
StatementsThis 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.
Examples of such statements include statements regarding
completion of the registration process in Brazil, sales of the
MBI’s products in Brazil and other markets, market projections,
including anticipated growth in the crop protection and
biopesticide markets, the potential benefits of the MBI’s products,
and MBI’s plans for testing products for additional uses. 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
consumer, regulatory and other factors affecting demand for the
MBI’s products, any difficulty in marketing MBI’s products in
global markets, competition in the market for pest management
products, lack of understanding of bio-based pest management
products by customers and growers, and adverse decisions by
regulatory agencies and other relevant third parties.
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 new information, future events or
otherwise.
Marrone Bio Innovations
Contacts:Pam Marrone, CEO and FounderJulie Versman, Sr.
Director of International BusinessTelephone: +1 (530)
750-2800Email: Info@marronebio.com
Investor Relations:Greg FalesnikManaging
DirectorMZ Group – MZ North AmericaMain: 949-385-6449
MBII@mzgroup.us
www.mzgroup.us
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