Nufarm Inks Deal To Market Marrone Bioinsecticide In ANZ
Marrone Bio Innovations (MBI), Inc. and Nufarm Australia Limited announced today the signing of a commercial agreement to develop Grandevo Bioinsecticide, with Nufarm to be the exclusive distributor in Australia and New Zealand (ANZ).
Grandevo is a new-generation product that helps growers protect crops against chewing and sucking insects and mites, including mealybugs, thrips, whiteflies, Lygus bug, armyworms and other pests, according to the announcement. The active ingredient in Grandevo is a unique species of non-living bacteria that produces insecticidal compounds during the fermentation manufacturing process.
Grandevo® provides resistance management in an IPM program, while not harming beneficial insects and pollinators, according to the announced agreement. It is also exempt from the requirement of a food tolerance, and provides an effective solution for late season pest control on exported crops that are subject to maximum residue levels.
Dr. Pam Marrone, Founder and Chief Executive Officer of Marrone Bio Innovations said, “The completion of this agreement with Nufarm is the first of many agreements we expect in the execution of our growth strategy by expansion into receptive international markets.”
“We are excited to be working with MBI and see Grandevo as an exciting step forward in integrating biorationals into what we do,” said Royden Hearn, Lead Portfolio Solutions for Nufarm operatons in Australia and New Zealand. “Combining this innovative product with Nufarm’s expertise in trees, nuts, vines and vegetables will have a positive impact for farmers who need to do more with less.”
Nufarm recently celebrated 100 years of servicing the ANZ market.
“We continue to innovate and develop within Nufarm and work with partners, such as MBI, to deliver innovative products to a market that continues to change,” Hearn added.
Both Australia and New Zealand represent significant opportunities for Grandevo, according to the release. Combined, horticulture crop protection revenues in these markets are estimated to exceed $300 million (U.S.) annually, Nufarm estimates.
The bulls took a break this week with the ICE July and Dec contracts giving back 46 and 34 points on the week, respectively. The July – Dec straddle finished