Plant Health Care PLC Update on sugarcane in Brazil (0790W)
30 July 2018 - 4:01PM
UK Regulatory
TIDMPHC
RNS Number : 0790W
Plant Health Care PLC
30 July 2018
30 July 2018
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Update on sugarcane in Brazil
Plant Health Care(R) , a leading provider of novel
patent-protected biological products to global agriculture markets,
provides the following update on Harpin <ALPHA><BETA>
launch in Brazil.
Highlights
- Harpin <ALPHA><BETA> applied in sugarcane in
Brazil; demonstration plot yield increase of 20% or more.
- Harpin <ALPHA><BETA> was launched in Brazil
sugarcane in February 2018 through Coplacana under the brand name
H2Copla. Grower feedback has been strong.
- Since the launch of H2Copla in February 2018, the product has
generated revenue of $400k. The Company expects to generate at
least as much revenue from H2Copla in the second half of 2018.
- The Company is now planning for the launch of Harpin
<ALPHA><BETA> in coffee, which has similar potential to
sugarcane.
With 10 million hectares planted, Brazil sugarcane is an
important target for Plant Health Care. The Company has been
developing Harpin <ALPHA><BETA> for use in this crop.
Trials have been conducted in both ratoon cane (i.e. cane which
grows back after harvest) and newly planted cane (normal practice
is to take five crops from ratton cane, then plant again). Trials
conducted on behalf of the Company in 2018 showed that single
applications of a low dose (100 g per Ha) at six to eight weeks
after harvest, significantly increased the yield of ratoon cane
(10-29%) in ratoon cane. Moreover, it is possible that the ratoon
crop may be extended from five to six years, which is a material
cost reduction, especially when sugar prices are low. Trials also
indicated that newly planted cane responds well to applications of
Harpin <ALPHA><BETA>.
Based on these promising results, as announced on 16 July 2018,
the Company launched a Harpin <ALPHA><BETA> product
with Coplacana, a leading sugarcane co-operative in Brazil, for
their exclusive use of the H2Copla brand in sugarcane. Coplacana
services more than 70% of the sugarcane hectares in Sao Paolo
state, where more than 5 million hectares of the crop are grown.
Demonstration trials with Coplacana have shown impressive results,
with an average yield increase of over 20%.
H2Copla was launched in February 2018 and the product has
received very positive grower feedback. The launch quantities have
been largely sold and the Company expects to make further sales
during the second half of 2018. We confidently expect sales in
Brazilian sugarcane to build in the second half of 2018 and over
the coming years.
Arnaldo Bortoletto, President of Coplacana, said "We continue to
have excellent field results with H2Copla, with good grower
feedback and we expect strong demand for H2Copla in the second half
of 2018".
Jeff Tweedy, Commercial Head, Americas for Plant Health Care,
said: "We are very encouraged by the support we are receiving from
Coplacana in promoting H2Copla in the field and have high
expectations for future sales. The Company is now developing Harpin
<ALPHA><BETA> in other crops. In 2017/18, we had most
encouraging preliminary results in coffee, with both yield and
quality improvements. We are now examining routes to market for
Harpin <ALPHA><BETA> in this crop, with a view to
launching for the 2019-2020 growing season. We see coffee as being
at least as valuable a crop for the Company as sugarcane."
For further information, please contact:
Plant Health Care plc
Chris Richards, Executive Chairman and Interim CEO Tel: +1 919 926 1600
Jeffrey Tweedy, Commercial Head, Americas
Liberum Capital - Nomad and Broker
Clayton Bush / Chris Clarke Tel: +44 (0) 20 3100 2000
Arden Partners plc - Joint Broker
John Llewellyn-Lloyd / Dan Gee-Summons Tel: +44 (0) 20 7614
5900
IFC Advisory - Financial PR
Graham Herring / Miles Nolan / Zach Cohen Tel: +44 (0) 20 3934
6633
Company website: www.planthealthcare.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTBIGDRCSDBGIR
(END) Dow Jones Newswires
July 30, 2018 02:01 ET (06:01 GMT)
Plant Health Care (LSE:PHC)
Historical Stock Chart
From Apr 2024 to May 2024
Plant Health Care (LSE:PHC)
Historical Stock Chart
From May 2023 to May 2024