LONDON (ShareCast) - (Sharecast News) - Biopesticide and crop protection technology company Eden Research announced on Wednesday that its partner in Spain and Portugal, Sipcam Iberia, has received authorisation for the sale of its bio-fungicide in Spain for use on a range of new crops, for the control of a larger number of fungal pathogens.
The AIM-traded firm said the product, known as '3LOGY' in Italy and 'Mevalone' in the rest of Europe, was authorised and marketed under the trade name 'ARAW' in Spain.

It said ARAW was authorised for use in Spain for control of the disease Botrytis cinerea - a prominent fungal pathogen affecting many plant species.

Botrytis causes annual economic losses of more than $10bn worldwide, and is a significant disease in grapes and several other crops, severely impacting crop yield and quality.

The company said the new authorisation would see ARAW used on major crops including strawberries, peppers, courgettes, aubergine, tomatoes, lettuce, brassicas, and raspberries.

Authorisation had also been given for the use of ARAW on an expanded list of diseases including powdery mildew on a range of significant horticultural crops, as well as on grapes.

Eden described Spain as a key market, with over 24% of the European Union's production of fruit and vegetables originating in the country.

The value of horticultural production alone, excluding top fruit and stone fruit, was estimated to be €10bn in the country in 2020.

"This expansion of the label for ARAW in Spain represents a meaningful increase in Eden's addressable market," said chief executive officer Sean Smith.

"Given the significance of Spain as a producer of horticultural crops in Europe, we are directly able to capitalise upon the growing trends toward sustainable agriculture and residue-free products that can be used in both organic and conventional growing systems.

"There is growing pressure within the food chain for the reduction of pesticide residues, which was pointed out in the Eurobarometer 2019 as one of the major concerns for European consumers."

For that reason, Smith said the fact that ARAW was exempt from the maximum residue limits was becoming more significant for a number of producers.

"These trends are also aligned with the EU's European Green Deal priorities, and we are pleased to help empower this shift toward sustainable, residue-free crop production in one of Europe's key agricultural markets."

At 1608 BST, shares in Eden Research were down 1.25% at 15.01p.

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