Rust22 Dec 2022 08:26
The expansion of the use of PHC279 into different varieties of Rust in other plants is encouraging. It may be a case of "jam tomorrow" but all PHC investors should know this is a 'slow and steady' market where regulatory approval takes time as does acceptance by farmers. Provided that in-field data from the rollout of PHC279 into soybean [where it is targetting Asian Soybean Rust] continues to impress, I would expect take up to be quicker in other plant species.
When announcing the PHC949 US application, the company said:
"To date, a number of field trials conducted of PHC949 in the United States have demonstrated ‘outstanding’ control of nematodes, the company outlined. For example, in peppers, PHC949 increased marketable yield by about 3,265 lbs/acre, worth an extra $2,070/acre, it reported.
The company further highlighted that several field trials are also underway to demonstrate the value of the novel PHC949 peptide in soybeans as well as in other crops in the US and Brazil.
The Company said it expects global sales of PHC949 to reach into the ‘tens of millions of dollars’ over the long-term and to become a significant value driver for the Company."
2 comments: (a) I had been hoping for news on the US application by now, and (b), it might be reasonable to expect the incoming Lula administration to be more welcoming to new, greener fungicides and nematicides.
A muted market response as usual...