MustGrow Biologics (CSE: MGRO) announced this morning that it has successfully imported its flagship TerraMG bio-pesticide into Colombia for the purpose of testing the product on the infamous Panama Disease. Panama Disease presents an existential threat to that of the global banana industry.
The disease is a strain of fusarium, and is a devastating disease pathogen that threatens the global banana industry, an industry pegged at $25 billion. Once in the soil, the disease can remain viable for decades and can ultimately result in a 100% yield loss. Panama Disease also has a particular affinity for Cavendish bananas, which accounts for half of all bananas produced. Given the prior success demonstrated by MustGrow’s mustard-derived TerraMG product on achieving 100% control of fusarium, the product is being tested on the strain responsible for large losses in the banana industry.
Laboratory testing being conducted within Colombia will focus on eradicating the disease, with research conducted serving as a benchmark for acquiring registration labels for the TerraMG product in Colombia and other South American countries. TerraMG is currently in the process of acquiring US-EPA and Canadian-PMRA registrations for the product for use as a pre-plant treatment against soil borne pests and diseases.
This is a huge milestone for MustGrow, as we expand our footprint from North America to South America. The Colombian government has declared a National State of Emergency, with no viable options available to combat Panama Disease – we look forward to potentially aiding not only Colombian farmers, but the health and prosperity of the nation itself.
Colin Bletsky, COO of MustGrow Biologics
The move to import TerraMG into Colombia for testing against Panama Disease is a part of MustGrow’s recently announced South American strategy. The company intends to pursue registration for the product for uses that include high value crops in the region such as coffee, oil palm, various floraculture, and of course, bananas. After the completion of successful laboratory testing, the company intends to conduct further field tests to analyze the efficacy of the product against numerous soil-borne diseases and pests in the South American region.
MustGrow Biologics last traded at $0.30 on the CSE.
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