30th Jul 2018 11:01
LONDON (Alliance News) - Plant Health Care PLC said Monday it is planning to launch its protein product Harpin in coffee after successful results in Brazilian sugarcane.
Shares in the provider of natural plant yield enhancing products were trading 8.0% higher at 18.68 pence each.
The company said that Harpin, which acts as an "early warning system" triggering signals throughout the plants to activate defensive responses, has shown a 20% plot yield increase after having been applied to sugarcane in Brazil.
The product was launched in Brazil in February and since then it generated revenue of USD400,000, with the company expecting "at least as much" in the second half of the current financial year.
As coffee has similar potential to sugarcane and the company received "most encouraging preliminary results in coffee" with both yield and quality improvements, it said it is now considering to launch it in the crop.
"We see coffee as being at least as valuable a crop for the company as sugarcane," Jeff Tweedy, commercial head of Americas region, said.
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