Bioceres Crop Solutions Receives Approval of HB4® Drought Tolerant Soybean in Canada

Rhea-AI Summary

Bioceres Crop Solutions Corp. (NASDAQ: BIOX) has successfully completed the regulatory review for its HB4 drought and herbicide tolerant soybeans, gaining approval from Canadian health authorities. This soybean variety, already approved in the US, Brazil, Argentina, and Paraguay, targets approximately 2.5 million hectares in Canada where soybean yields are currently low. The HB4 program aims to enhance sustainable agricultural practices by utilizing identity preserved production systems, expanding the HB4 variety growth to 10 million hectares across North America.

Positive

• Approval for HB4 soybeans by Canadian health agencies boosts market presence.
• The expansion targets 10 million hectares in North America, indicating growth potential.
• HB4 soybeans already approved in key markets covering 85% of global soybean hectarage.

Negative

• None.

Bioceres Crop Solutions Corp. (“Bioceres” or the “Company”) (NASDAQ: BIOX), a fully-integrated global provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, announced today it has successfully completed the regulatory review process and received approval for its HB4 drought and herbicide tolerant soybeans from the Canadian Health Agency and the Canadian Food Inspection Agency.

With approximately 2.5 million hectares farmed every year and yields often below three tonnes per hectare, Canada’s soybean production regions are well suited for HB4 value generation. Ongoing breeding efforts for the Dakotas and Minnesota region in the United States will now expand to southern Canada, reaching a total of 10 million hectares targeted with the HB4 varieties under development.

Currently, HB4 soybean is approved for production in the United States, Brazil, Argentina and Paraguay, collectively representing, together with Canada, 85% of the world’s hectarage dedicated to the crop.

The Canadian agriculture industry is a pioneer and global leader in identity preserved production systems, providing a uniquely qualified community of growers for the Generation HB4 Program – the Company’s identity preserved HB4 seed production system under regenerative agricultural practices.

For more information about Bioceres’ HB4 technology and related products, please refer to the Company’s HB4 white paper at: https://investors.biocerescrops.com/events-and-presentations/default.aspx

About Bioceres Crop Solutions Corp.

Bioceres Crop Solutions Corp. (NASDAQ: BIOX) is a fully integrated global provider of crop productivity technologies designed to enable the transition of agriculture towards carbon neutrality. To do this, Bioceres’ solutions create economic incentives for farmers and other stakeholders to adopt environmentally friendlier production practices. The Company has a unique biotech platform with high-impact, patented technologies for seeds and microbial ag-inputs, as well as next generation crop nutrition and protection solutions. Through its HB4® program, the Company is bringing digital solutions to support growers’ decisions and provide end-to-end traceability for production outputs. For more information, click here.

Forward-looking statements

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FAQ

What recent approval did Bioceres receive for its HB4 soybeans?

Bioceres received regulatory approval from the Canadian Health Agency and the Canadian Food Inspection Agency for its HB4 drought and herbicide tolerant soybeans.

How does the HB4 program impact soybean production in Canada?

The HB4 program aims to enhance soybean yields in Canada, where yields often fall below three tonnes per hectare, by targeting approximately 2.5 million hectares.

What is the significance of HB4 soybeans' approval in relation to global agriculture?

The approval represents a strategic expansion of HB4 soybeans, which are now permitted in countries accounting for 85% of the world's soybean hectarage, promoting sustainable agricultural practices.