At a time when drought has ravaged Australian farmers, food storage is poised to play a vital role in the nation’s agriculture production which is seeing significant industry investment in Bio-Gene Technology (ASX: BGT) and their grain pest control products.
In the latest round of announcements, Bio-Gene has confirmed the addition of Grains Research and Development Corporation (GRDC) to the group of Government agencies already working with Bio-gene to tackle grain storage pests.
“We are delighted that the GRDC has chosen to collaborate with us in this research program,” said Bio-Gene CEO, Richard Jagger.
“GRDC is the leading investor in grains RD&E in Australia and the decision to support our trial program is significant because it represents notable endorsement of our technology.”
The GRDC is a statutory authority of the Australian Government and invests around $194 million annually in world leading research projects to capture opportunities in grain production systems and value chains.
With continued development of pesticides over the years, farmers are faced with newer generations of pests which have developed an immunity to traditional pesticides. Because of this, up to 50% of global grain storage loss can be attributed to resistant pests where contamination from alternative solutions has also led to reductions in grain quality.
Already working closely with the Queensland Department of Agriculture and Fisheries, Bio-Gene has advanced in the grain storage trials of their Flavocide product which has delivered 100% residual control over first generation offspring of the Lesser grain borer – a major grain storage pest.
Following the release of the latest announcement, CEO Richard Jagger reported the addition of 65,000 BGT shares valued at $216,629 as part of his previously approved incentive remuneration.