Stargus, one of Marrone Bios (NASDAQ:MBII) fungicides, has been approved for immediate use in California for use on several crops, including grapes, vegetables and strawberries. Stargus can be applied right up the time of harvesting and it is very effective when combined with traditional pesticides.
The state of California is the largest grower of vegetables in the US, with close to a 40% market share, followed by Florida with 6%. Florida is the largest producer of fresh cucumbers and Michigan is the largest producer of pickled cucumbers so California is a very important market for Marrone Bio.
The company is extending its registration processes to countries outside of N. America. The recent acquisition of Pro Farm (Finland) makes Europe a logical area for expansion by piggy-backing on Pro Farms existing sales and marketing staff.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full Disclaimer HERE.