The threat of the world's food supply for the future is now being amplified by atomic scientists, calling for the need to act now to ensure global food security and reduce agricultural greenhouse gas emissions. Back in April, the United Nations published two releases on the bioeconomy, from its UN Food and Agriculture Organisation (FAO) and UN Environment Agency (UNEP). According to analysts at Verisk Maplecroft, threats to food security are increasing in 135 countries, with Europe registering the largest uptick in risk. Meanwhile, the agritech sector is working diligently behind the scenes to improve the world's chances of meeting future food demand, including with developments from Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF), Nutrien Ltd. (NYSE: NTR) (TSX: NTR), The Mosaic Company (NYSE: MOS), CF Industries Holdings, Inc. (NYSE: CF), and Ingredion Incorporated (NYSE: INGR).
One of the innovative approaches being proposed to help crops is the use of commercially-reared bees to deliver biological pesticide alternatives directly to crops, some believe could completely revolutionize the $250 billion crop protection and fertilizer industry. Actively pioneering this method is Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF), which is emphasizing biological agricultural products ("biologicals") poised to supplant chemical pesticides and fertilizers. The biologicals sector is surging according to DataHorizzon Research, which predicts a steady compound annual growth rate (CAGR) of 13.3%, reaching a market size of US$45.3 billion by 2032.
BVT has made significant advancements with its proprietary biological control agent, CR-7, specifically as a seed treatment for soybeans. This progress highlights CR-7's compatibility and safety for seeds, paving the way for its commercial application in agriculture.
"Two years of rigorous testing confirmed CR-7's exceptional safety profile on soybean seeds, showing no signs of toxicity or adverse effects on plant health," said Dr. Mason Newark, Field Technical Manager at BVT. "These results establish CR-7 as an excellent candidate for seed treatment, given its long shelf life, compatibility with other common seed treatment products, and its safety for use on seeds."
Studies reveal that CR-7 retains a long shelf life when used on soybean seeds, ensuring extended viability. Furthermore, testing has confirmed CR-7's compatibility with a range of seed treatment products, including both biologicals and chemical pesticides. Comprehensive safety evaluations have demonstrated that CR-7 does not adversely affect soybean seed germination or growth, validating its safety and effectiveness in combination with other treatments.
"Investing in this research is crucial for understanding the potential market for a CR-7 seed treatment product," said Ashish Malik, CEO of BVT. "We continue to progress our collaborations with major global multinationals. These are potential partners looking to differentiate their seed treatment portfolio offerings in soybeans, a major global crop that is worth US$155 billion annually and projected to reach US$278 billion by 2031."
BVT's recent progress in corporate partnerships has led to new international trials and wider application of the CR-7 biological control agent. A significant accomplishment includes findings from a Michigan State University trial, which demonstrated that CR-7 reduces early disease infection and fungal diseases by over 90% compared to untreated plots, matching the effectiveness of traditional chemical treatments.
Over the past year, BVT has reached notable milestones, including initiating trials in Spain with Agrobío, collaborating with a major multinational grower in Mexico, and partnering with MBFi in South Africa. Additionally, this period marked the first sale of CR-7 to BioSafe Systems. Encouraged by the positive results from the Michigan State University trial, BVT intends to replicate these trials in the coming years to further validate the efficacy of CR-7.
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