PALM BEACH, Fla., Aug. 12, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Increasing demand for food supply due to the rapid growth in the human population has triggered agricultural intensification during the last few decades. For addressing the growing food demands, agrochemicals (fertilizers and diverse pesticides) are rigorously used in agriculture, which accomplishes the gap between food production and consumption. Agrochemicals are specially engineered chemical products for use in agriculture in order to enhance crop productivity and protect the crops from pests, insects, weeds, fungi, and others. Agrochemicals can be produced in both, chemical as well as biological methods. Synthetic agrochemicals are a threat for the environment and are gradually being replaced by bio-based pesticides and fertilizers. Considering the current global population scenario, it is of extreme importance to increase the production of crops within the present arable land in order to feed the global population. Thus, agrochemicals play an important role in the agriculture industry, assisting farmers in enhancing their crop quality as well as quantity. A report from MarketsAndMarkets said that the global agrochemicals market is estimated to grow from USD 208.6 billion in 2020 and is projected to reach USD 246.1 billion by 2025, at a CAGR of 3.4% during the forecast period, while another report by Allied Market Research was even more optimistic, saying that the Global Agrochemicals market size is expected to reach $336.4 billion by the end of 2026, registering a CAGR of 4.2%.Active companies in the markets this week include: Pressure BioSciences, Inc. (OTCQB: PBIO), American Vanguard® Corporation (NYSE: AVD), Marrone Bio (NASDAQ: MBII), Nutrien Ltd (NYSE: NTR) (TSX: NTR), Agrify Corporation (NASDAQ: AGFY).
The Allied report said: "The global agrochemical market is segmented based on type and geography. According to the type, agrochemicals can be categorized into fertilizers and pesticides. Fertilizers are expected to dominate the agrochemicals market. The major nutrients present in the fertilizers are categorized into micronutrients and macronutrients. N, K, and P are macronutrients that are essential for the growth of the plant. All other nutrients are micronutrients that are required by the plants in small amounts. Commercial fertilizers are applied to plants or soil as supplements when the soil is not able to provide the required amount of nutrients naturally. Globally, the agrochemicals market is segmented across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for the largest share of agrochemicals market, owing to high agricultural activities in this region. However, France is the largest agrochemicals market in Europe. Agrochemicals, when used in higher concentration, result in surface water pollution and adversely affect the environment. Thus, the production of bio-based fertilizers and pesticides have created numerous opportunities for the key market players."
Pressure BioSciences, Inc. (OTCQB: PBIO) BREAKING NEWS: Pressure BioSciences New Eco-Friendly Agrochem Subsidiary Receives Over $1,000,000 in Orders in First Month of Operations - Pressure BioSciences, a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, and platform technology solutions to the worldwide biotechnology, biotherapeutics, nutraceuticals, cosmetics, agriculture, and food & beverage industries, today announced that its newly-formed agrochemicals subsidiary - PBI Agrochem, Inc. - has received initial purchase orders for over $1M of eco-friendly agrochemical products for delivery in 2021. Just three weeks ago, the Company announced the formation of its new agrochemicals division in anticipation of the planned asset acquisition of a global agrochemicals products business focused on organically natural and environmentally responsible products.
PBI's President and CEO Richard T. Schumacher explained the fast development of early sales: "With integration planning for this acquisition well underway, PBI Agrochem placed an initial order for specialized, proprietary bulk material in July and began establishing U.S. warehousing, processing, and final product packaging facilities. Our objective was to insert PBI Agrochem into the supply chain and sales channels of our acquisition target, in order to capture early sales revenues that we believe could have an immediate, accretive impact upon PBI's overall operating results. These efforts have resulted in over $1M in 2021 customer orders for eco-friendly and effective agrochemical pest control and growth stimulant products."
Mr. Schumacher continued: "We anticipate that the delivery and booking for most of these orders will occur during the third quarter 2021. PBI investors who have followed and supported the Company through recent years understand that this new incremental revenue from PBI Agrochem represents a potential doubling (or more) of quarterly revenues, when added to sales of PBI's existing core products and services. With additional orders expected to arrive over the coming weeks and months, we believe Q4 2021 could substantially exceed the results of Q3 2021. Our new agrochem sales are expected to accelerate PBI's rapidly improving growth trajectory and should contribute substantially towards our planned transition to profitability by the end of 2022."
Mr. John B. Hollister, Director of Sales and Marketing at PBI, said: "The market potential in agrochemicals is enormous, driven by the intersection of burgeoning global population growth and accelerating environmental consciousness and priorities. Our positioning in organically natural and ecofriendly product solutions places PBI squarely within the hottest growth generation in this sector. Closing on over $1M of orders in the first month of PBI Agrochem operations is a welcome signpost on the road to major growth and profitability for our agrochem operations. The broad array of eco-friendly products being integrated into PBI will address a diversity of agrochem client needs throughout the year, from fertilizing young plants, to mitigating microbial and larger animal threats, to enhancing the appearance and appeal of finished produce."
PBI's Board Chairman Jeffrey N. Peterson commented on the synergies achieved in PBI's move into agrochemicals: "The creation of many organically natural and effective, environmentally-friendly agrochemical products is typically achieved through utilization of essential oil active ingredients extracted from plants, such as the already popular use of orange peel essential oil in ant sprays. PBI's breakthrough Ultra Shear Technology™ (UST™) platform, for creation of extremely low-droplet size nanoemulsions of oils in water, offers added value for a new generation of products with improved effectiveness and economics, allowing less active material to deliver higher effectiveness when applied or consumed. We are aggressively driving the creation of pioneering partnerships around UST in application sectors from pharmaceuticals to nutraceuticals to food/beverage and many more areas, as PBI's core strategy for growth and profitability. We have singled out agrochemicals for a more aggressive forward integration into an applications sector for UST, in a bid to accelerate the cycle of education, trial, market demonstration, product differentiation, and uniquely advantaged growth. We are delighted to be sharing these insights into PBI's expected accelerating growth trajectory and path to profitability with our loyal investor base." CONTINUED… Read this full release and more news for Pressure BioSciences at: https://www.financialnewsmedia.com/news-pbio/
Other recent developments in the markets include:
American Vanguard® Corporation (NYSE: AVD) recently announced that its principal operating subsidiary, AMVAC® Chemical Corporation (AMVAC), has entered into agreements with Syngenta Crop Protection, LLC, to acquire rights to Envoke® herbicide. The acquisition includes end-use product registrations and trademarks for Envoke herbicide in the United States.
Syngenta and AMVAC will work together over the next several months until the US Environmental Protection Agency registration has officially transferred to facilitate an orderly transition to maintain quality customer service in all domestic geographies. The financial terms of the transaction were not disclosed.
Envoke is an HRAC/WSSA Group 2 post-emergent herbicide for use in cotton, sugarcane, and transplanted tomatoes for control of certain broadleaf weeds, sedge, and grass weeds delivering effective control of many troublesome weed species, including many of those missed by glyphosate. Envoke is an ideal tank-mix partner for a broad spectrum of control and provides cost-saving growth regulator effect, allowing plants to focus energy on fruit development.
Rizobacter -- a subsidiary of Bioceres Crop Solutions Corp. (BIOX) and a global leader in sustainable solutions for agriculture -- and Marrone Bio (NASDAQ: MBII) (MBI) -- an international leader in sustainable bioprotection and plant health solutions -- recently announced that Rizonema™, a biological seed treatment for nematodes and soil dwelling insects, will be offered for use in row crops in Brazil through an expanded distribution agreement.
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.
Nutrien Ltd (NYSE: NTR) (TSX: NTR) recently announced that it has increased its first-half 2021 earnings guidance given the strength in global fertilizer markets and strong operational results. First-half 2021 adjusted net earnings per share (EPS) is expected to be $2.30 to $2.50, up significantly from our previous guidance of $2.00 to $2.20 (first quarter adjusted net earnings per share was $0.29).
We will provide updated 2021 full year guidance at the time of our second quarter results in early August. However, we expect the midpoints of both our 2021 adjusted EBITDA and adjusted EPS guidance to be above the top end of the ranges previously provided at the time of our first quarter results.
In response to continued tightening in global potash market conditions, we are flexing our low-cost network of six mines to draw upon our available capacity in a timely manner and are planning to produce a further half a million tonnes of potash, which is in addition to the half a million tonne increase announced on June 7, 2021. As a result, we now expect to produce one million tonnes of incremental potash in 2021 compared to expectations earlier this year. The majority of the increased production is expected to occur in the fourth quarter, with some of these additional tonnes expected to be sold in early 2022. Our updated guidance for potash sales volumes in 2021 is 13.3 to 13.8 million tonnes, which would exceed our previous record high for annual sales volumes of 13 million tonnes set in 2018.
"The quality and breadth of our integrated network combined with unparalleled expertise in potash mining and an exceptional transportation and logistics system helps ensure our customers have the crop inputs they need to feed a growing world and drives tremendous shareholder value. With continued strength in global agriculture and crop input markets, we are raising guidance and expanding our potash production by a total of one million tonnes to ensure farmers get the potash they need," commented Mayo Schmidt, Nutrien's President and CEO.
Agrify Corporation (NASDQ: AGFY), a developer of highly advanced and proprietary precision hardware and software cultivation solutions for the indoor agriculture marketplace, recently announced that it has signed a definitive Collaboration Agreement ("the Agreement") forming a long-term research and development ("R&D") partnership with Curaleaf Holdings, Inc. ("Curaleaf").
The research will be focused on evaluating the impact of certain environmental conditions created and controlled by Agrify's Vertical Farming Units ("VFUs") and Agrify Insights™ software platform on harvest yields, plant terpene profiles, and flavonoid concentrations.
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