Plant Health Care nematicide gets approval in Brazil

The AIM-traded firm said TEIKKO, an innovative peptide product developed under its PREtec peptide platform, was designed to help farmers control nematode pests without resorting to traditional agrochemicals.

Nematodes are known to damage plant roots and limit crop yield, making their control essential for agricultural productivity.

Brazilian farmers face significant nematode-related challenges, spending over $200m on nematode control during the most recent season.

Research conducted during the 2022 and 2023 soybean crop seasons demonstrated that TEIKKO performed as well as or even outperformed standard agrochemical treatments for controlling root-lesion nematodes in soybeans.

Plant Health Care said TEIKKO offered several advantages over alternative biological products, including a three-year shelf-life, ease of storage, compatibility with other seed treatments, and reliable performance under various environmental conditions.

The company said it discussed introducing TEIKKO in 2024 with potential distribution partners, making it available for the 2025 soybean growing season.

"TEIKKO will help Brazilian farmers sustainably produce their soybean crops and supports the company's vision to be a leading global provider of alternatives to conventional agrochemicals," said chief executive officer Jeff Tweedy.

"Unlike TEIKKO, current soil fumigants and other chemical nematicides are known to have damaging off-target effects."

Tweedy described TEIKKO as an environmentally friendly biological alternative that performed as well as or better than older technologies, with the company expecting rapid adoption among Brazilian farmers.

"We are excited about the developing plans to launch TEIKKO in 2024, with strong growth thereafter."

At 1416 GMT, shares in Plant Health Care were up 6.78% at 3.94p.

Reporting by Josh White for Sharecast.com.