Canada’s pesticide regulator has given a clean bill of health to a number of Marrone Bio Innovations Inc. (NASDAQ: MBII)’s products to pave the way for their sale in the country. As such, Canadian wheat and soybean farmers can now use Reglia Rx in their farms. Reglia Rx is a biofungicide that Marrone is trying to offer as a safer solution to agricultural pest control.
Canada’s Pest Management Regulatory Agency, a division of Health Canada that is concerned with regulation of pesticides, also cleared Marrone’s other products to be sold in the country. The agency has paved the way for Canadians to use Marrone’s two other Regalia products in their gardens and homes to treat plant bacterial and fungal diseases.
Marrone Bio Innovations Inc. (NASDAQ: MBII)’s Regalia is not only biodegradable, but it also doesn’t cause harmful effects on wildlife and watersheds like is the case with most agricultural chemicals.
The approval of Regalia in Canada expands the market for Marrone Bio Innovations Inc. (NASDAQ: MBII)’s products. The company is trying to seize the opportunity created by growing rebellion against inorganic chemicals used in food farms. Many nations around the world have stepped up their efforts to limit the use of chemical pesticides in farms that grow food, especially food for the export market.
The effort to limit use of inorganic chemicals is creating demand for organic pesticides such as those manufactured by Marrone Bio Innovations Inc. (NASDAQ: MBII).
Marrone’s key products are Regalia, a biofungicide and Grandevo, a bioinsecticide.
Outside of Canada now, Marrone Bio Innovations Inc (NASDAQ:MBII)’s bio-based plant disease control products have been approved in the U.S. and Morocco. The company is in the process of securing their approval in more countries with current focus being on China, Indonesia and the Philippines. Sales in Morocco are set to start this year as MBII only received approval in the country recently.
Marrone Bio Innovations Inc. (NASDAQ: MBII), growing revenue
According to Marrone Bio Innovations Inc. (NASDAQ: MBII)’s CEO, Pam Marrone, the priority now is to grow revenues, which explains why the company is aggressively seeking marketing approval of its signature products. It needs to reach out widely to show farmers that they can grow healthy crops without worrying about the level of chemical residue in their produce that could jeopardize their market.