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Devgen (Euronext Brussels; DEVG) and Leads Agri today announced the launch of the first Devgen hybrid rice seed product MasuwerteTM for the Philippines. MasuwerteTM is a high yielding long grain hybrid rice, with a good aroma.
The product is a Philippine-bred hybrid rice well suited to the South-East Asian climate, local agricultural practices and to the requirements of the Filipino farmers and consumers. The Philippines cultivate rice on about 4.4 million Ha of which an estimated 5% is covered with hybrid rice.
As communicated earlier, the Devgen product will be exclusively distributed by Leads Agri. Devgen further strengthened its own team in the Philippines and invested in the training and education for sales support, production and R&D.
"We are very pleased to announce the launch of our first product for the Philippines. This is a major step forward in the execution of our business plan", says Thierry Bogaert, CEO of Devgen, "Furthermore, it is a pleasure to work with our partner Leads Agri. They bring the necessary experience with the Philippine market and share our philosophy of building a strong relationship with the farmer."
Mr. Fernando B. Malveda, President/CEO of Leads Agri says "It is always best to work with a company with strong adherence to quality especially with hybrid seeds. We are glad to have Devgen as partner towards a common goal of enabling the Filipino farmers to have a sustainable, high quality and profitable rice production."
MasuwerteTM will be sold and promoted under Devgen's "Frontline" brand name.
Source: Devgen
Tags: new products
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