Evogene announces 'positive' yield results in bio-stimulant program for wheat
Evogene announced that its Ag-Biologicals division has achieved positive yield results leading to phase advancement in its bio-stimulant for wheat program. This phase advancement, from discovery to initial development, is based on meeting efficacy criteria in spring wheat field trials with significant yield improvements of 10%-20%. The global wheat flour market was valued at approximately $200 billion in 2015 and is estimated to reach approximately $270B by 2022. Almost 40% of the total wheat planted in North America is spring wheat, mostly concentrated in North Dakota and Western Canada. Evogene's bio-stimulant candidates for spring wheat are being initially developed as seed treatments with additional application methodologies planned to follow. Having moved to the development stage, efforts are now focused on advancement of formulation technology and fermentation protocols for the improvement of performance consistency and to reduce production costs. Further steps will include field trials in the US in the coming season followed with expansion into Western Canada, which are the key geographies for a 1st product launch.