Shares in Plant Health Care PLC (AIM:PHC, OTCQB:PLHCF) nudged 8% higher following Brazil's federal approval of its innovative nematicide, TEIKKO, for the 2024/25 soybean season.
TEIKKO, developed from the company's PREtec peptide platform, provides a new approach to controlling microscopic worms called nematodes in soybeans, offering a sustainable alternative to conventional agrochemicals.
The product's effectiveness, comparable to or exceeding standard treatments, along with advantages such as a three-year shelf life, no special storage needs, and compatibility with other seed treatments, positions it as a significant advancement in crop protection.
With Brazilian farmers spending over $200 million on nematode control and the soybean harvested area forecast at 45 million hectares, TEIKKO's launch in 2024 is poised to meet a growing market demand for environmentally friendly and efficient agricultural solutions.
In early trade, the stock was changing hands for 3.97p, up 0.28p.