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(Sharecast News) - Agricultural biological developer Plant Health Care announced on Friday that its biochemical fungicide PHC279, tailored for controlling sugar cane and coffee diseases, had obtained federal clearance in Brazil - the world's largest sugarcane and coffee producer.
The AIM-traded firm said that with an anticipated area of 9.8 million hectares dedicated to sugar cane cultivation and more than 2.5 million hectares of coffee in the 2023-2024 season, Brazil remained at the forefront of the industries.
Notably, during the 2021-2022 season, Brazilian agronomists disbursed more than $46m to combat sugar cane ailments, and $127m for coffee disease management.
Introduced for regulatory scrutiny in December, PHC279 - employed as a foliar-applied product - specifically targets sugar cane orange rust, or 'Puccinia kuehnii', and coffee leaf rust, or 'Hemileia vastatrix'.
The board said the potent ingredient was also the foundation of 'Saori', another of Plant Health Care's offerings, which had garnered acclaim in Brazil for its efficacy as a soybean disease control seed treatment.
It explained that the genesis of PHC279 was in Plant Health Care's 'PREtec' technology platform, which it describes as 'vaccines for plants'.
Based on natural proteins, the firm said PREtec propels crop growth, and equips them to resist diverse abiotic stresses, augmenting disease control, overall plant health, and yield.
Given its eco-friendly composition and its unique operational mechanism, PHC279 was set for a broad acceptance among the Brazilian community of sugarcane and coffee cultivators.
Currently, the company is engaging in conversations with potential collaborators, eyeing a product rollout in 2024.
"Building on the success of Saori use in soybeans and the continued growth of H2Copla use in sugarcane, this new registration will bring the benefits of PHC279 to sugar cane and coffee growers and expand Plant Health Care's current business in Brazil," said chief executive officer Jeff Tweedy.
"This product will help Brazilian farmers sustainably produce crops and supports the company's vision to be a leading global provider of peptides for agricultural production."
At 0824 BST, shares in Plant Health Care were up 10.16% at 10.3p.
Reporting by Josh White for Sharecast.com.
