Save Foods Establishes Presence in Turkey as It Looks to Expand in Europe

Rhea-AI Summary

Save Foods has engaged a post-harvest expert in Turkey to connect with local operators in the EU produce market. The EU market is crucial for Save Foods, especially in the citrus sector. Turkey exported $2.7 billion in fruits and vegetables in 2020, with a significant portion going to Germany. The company's eco-friendly treatments for fresh produce comply with strict EU pesticide regulations, enhancing appeal for Turkish packers. Preliminary discussions for trials with local packing houses received positive feedback, aligning with the EU's sustainability goals.

Positive

• Engagement of a commercial expert to access the EU produce market.
• Strong export performance of Turkish fruits and vegetables, with $2.7 billion in 2020.
• Save Foods' products align with EU regulatory demands, fostering business opportunities.
• Positive preliminary discussions with local packing houses for upcoming trials.

Negative

• None.

Save Foods’ products aims to enable packers to meet strict EU regulatory residue requirements

TEL AVIV, Israel, Sept. 17, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Save Foods (Nasdaq: SFVD) (“Save Foods” or the “Company”), an agri-food tech company focused on developing and selling eco-friendly products specifically designed to extend the shelf life and ensure food safety of fresh fruits and vegetables, announces it has engaged a commercial post-harvest expert in Turkey, who is well connected in the local produce market, particularly within the citrus sector, to introduce the Company to local post-harvest operators with ties to the EU produce market.

The Union of Exporters of the Mediterranean Region notes Turkey exported a record $2.7 billion in fruits and vegetables in 2020, up 21% compared to 2019. Trading Economics states 22% of that produce was sent to Germany. Mandarin oranges were the country’s leading fruit export, accounting for $437 million, followed by tomatoes and lemons.

Dan Sztybel, CEO of Save Foods Ltd., the Company’s Israeli Subsidiary, commented, “The EU is an important market for Save Foods and Turkey is a natural gateway for us. Our treatments are extremely effective on mandarin oranges - Turkey’s leading export - as evidenced by our trusted relationship with Cuties™, one of the best-selling produce brands in the United States.”

The EU maintains maximum residue levels (MRLs) for pesticides in or on food to protect consumers against unnecessarily high residue levels and the associated health risks. Likewise, certain leading food retailers in Europe developed and implemented their own MRLs, which are often stricter than those imposed by the EU. The EU recently released the “Farm To Fork Green Deal Initiative” which establishes concrete targets to reduce food waste and the use of pesticides in the EU by 50% and convert a quarter of the total farmlands of the EU to organic cultivations.

Dror Eigerman, a post-harvest expert and a member of the Company’s advisory board, concluded, “Save Foods’ products offer a perfect solution for Turkish produce packers; not only do they represent a green sustainable investment, but also provide a safe, effective, green treatment alternative that will allow the packers to comply with the EU’s new regulations. Our local expert is well-positioned to introduce us to suitable customers throughout the country. Preliminary discussions have been very well received and we are on track to initiate trials with several local packing houses for the upcoming grow season.”

About Save Foods

Save Foods is an innovative, dynamic company addressing two of the most significant challenges in the agrifoodtech industry: food waste and loss, and food safety. Save Foods is dedicated to delivering integrated solutions for improved safety, freshness and quality, every step of the way from field to fork. Save Foods develops new solutions that benefit the entire supply chain and improve the safety and quality of life for workers and consumers alike.

For more information visit our website at https://savefoods.co/

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. The forward-looking statements in this press release are subject to other risks and uncertainties, as well as those discussed under the heading “Risk Factors” in Save Foods’ annual report on Form 10-K filed with the SEC on March 29, 2021, and in any subsequent filings.

To review the entire press release and full disclaimer, please visit: https://savefoods.co/press-releases/

Media Contact:

Dariela Farcas
IR@savefoods.co

FAQ

What recent development has Save Foods made in Turkey?

Save Foods has engaged a post-harvest expert in Turkey to connect with local operators in the EU produce market.

How much did Turkey export in fruits and vegetables in 2020?

Turkey exported a record $2.7 billion in fruits and vegetables in 2020.

Why is the EU market important for Save Foods?

The EU market is crucial for Save Foods as it involves stringent residue regulations which their eco-friendly products comply with.

What feedback has Save Foods received regarding its products from Turkish packing houses?

Save Foods received positive feedback during preliminary discussions for trials with Turkish packing houses.

What percentage of Turkish produce was sent to Germany?

22% of Turkey's produce exports were sent to Germany.