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Devgen successfully expands its hybrid pearl millet seeds portfolio in India

28/02/2012

Devgen nv (Euronext Brussels: DEVG) today announces the successful completion of the first sales season of its first hybrid pearl millet seed adapted to all pearl millet growing areas in India.

Until the market introduction of this new product, Devgen’s hybrid pearl millet seeds were suited only for the South of India (15% of the market). The new hybrid pearl millet seed is important for Devgen as it gives the company first time access to farmers in North India, which account for almost 85% of the 10 million hectare pearl millet market. Devgen is now in a position to significantly increase its sales of hybrid pearl millet seeds throughout India.

In its first sales season the new seed was purchased, planted and harvested by over 15,000 farmers across all the pearl millet growing areas in India. The feedback from farmers was very encouraging, referring to a number of advantages over currently available products including higher yields of premium grain and fodder combined with desirable colour and quality.

“The successful development of our new hybrid pearl millet is another important validation of Devgen’s ability to innovate. The positive feedback across growing areas reinforces our view that over the next few seasons this hybrid has the potential to substantially increase our share of the hybrid pearl millet seed market”, Thierry Bogaert, CEO of Devgen, stated.

Pearl millet is an important food crop in India as it requires less water than many cereal crops and is able to survive at high temperatures making it ideal for cultivation under dry conditions. The total hybrid pearl millet seed market in the country has an estimated potential volume of between 15.000 and 25.000 tons of seed per year.

About Devgen nv:

“Shaping the field of hybrid rice across India and South East Asia”

Devgen’s mission is to deliver the next green revolution in rice to farmers in India and Southeast Asia.

 

Devgen uses advanced biotechnology and molecular breeding technology to develop Next Generation Hybrid Rice (NGHRTM) seeds and crop protection solutions with a superior environmental profile:

• Devgen develops the next generation of hybrid rice, improving yield, seed productivity, grain quality, and tolerance to biotic and abiotic stress factors. Devgen strongly believes that this hybrid rice technology has the potential to drive the accelerated conversion of conventional rice to hybrid rice.
• Anticipating the need to increase insect resistance and drought/heat tolerance in rice to a level that is beyond what can be achieved with traditional breeding, Devgen creates a portfolio of biotech traits using own technology as well as in-licensed technologies.
• Devgen established an integrated seed business in India and Southeast Asia through which its rice crops and technologies reach the market. In India, Devgen complemented its hybrid rice business with geographically and seasonally complementary crops: hybrid sorghum, pearl millet and sunflower.
• In its Crop Protection unit, Devgen developed a novel nematicide, an agro-chemical product that protects crops from damage by parasitic nematodes. This product is currently sold in Turkey and was recently introduced on the market in the US.
• Devgen innovates in crop protection research and environment induced stress tolerance for its own crops and provides technology to corporate partners.

Incorporated in 1997, Devgen has offices in Ghent (Belgium), and has subsidiaries in Singapore, Hyderabad (India), Yogyakarta (Indonesia), General Santos (the Philippines) and Delaware (US), totaling over 250 staff.

Source: Devgen