United Kingdom
March 31, 2021
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in global crop protection, animal health and consumer products industries, announces that Sipcam Iberia, Eden's commercial partner in Spain and Portugal, has received authorisation for the sale of Eden's bio-fungicide in Spain for use on a range of new crops for the control of a larger number of fungal pathogens. The product, known as 3LOGY® in Italy and Mevalone® in the rest of Europe, is authorised and marketed under the trade name "ARAW®" in Spain.
ARAW has been authorised for use in Spain where it is used as a sustainable and residue-free solution for control of the disease Botrytis cinerea, a prominent fungal pathogen affecting many plant species. Botrytis causes annual economic losses of more than $10 billion worldwide and is a significant disease in grapes and several other crops, severely impacting crop yield and quality. The new authorisation will see ARAW used on major crops including strawberries, peppers, courgettes, aubergine, tomatoes, lettuce, brassicas, and raspberries. Authorisation has now 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.
Spain is a key market for Eden and Sipcam Iberia, which markets and sells ARAW. Over 24% of the European Union's production of fruit and vegetables originates in Spain, according to Eurostat figures. The value of horticultural production alone (excluding top fruit and stone fruit) in Spain was estimated to be €10 billion in 2020.
ARAW has been in the Sipcam portfolio for a number of years, so the sales and marketing teams already have detailed knowledge of its performance, which will assist in the promotion of the product in these new crop areas. As a product with an organic designation, the label extension for ARAW brings significant benefit to organic producers of horticultural crops in particular. The organic sector is a fast-growing market with 9.3% of the country's total Useful Agricultural Area already dedicated to organic production and an average annual increase in the total organic acreage of 7.5% over the last five years. However, Sipcam also sees multiple opportunities for ARAW to be used by non-organic growers too due to its high efficacy as a fungicide. ARAW performs well in multiple conditions and within various integrated pest management strategies.
Sean Smith, Chief Executive Officer of Eden, said: "This expansion of the label for ARAW in Spain represents a meaningful increase in Eden's addressable market. 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 this reason, the fact that ARAW is exempt from the maximum residue limits is becoming ever more significant for many 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."
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