- Bee Vectoring Technologies (BEE) has expanded into the South American market with its entry into Peru
- Peru is the number one supplier of fresh blueberries worldwide
- The company will also pursue other crops in the country, including avocados
- BVT has begun the development work needed to enter Peru, including trial and regulatory requirements
- BVT is an agriculture technology company that has developed a natural precision agriculture system that replaces chemical pesticides
- Shares in Bee Vectoring Technologies International Inc. (BEE) are up 1.82 per cent, trading at $0.28 per share
Bee Vectoring Technologies (BEE) has expanded into the South American market with its entry into Peru.
The country is one of Latin America’s best-performing economies, led by its seasonal exports of high-value fresh fruit and vegetables, including blueberries, table grapes, avocados, and asparagus.
Peru is the number one supplier of fresh blueberries worldwide, thanks to long growing days, large expanses of plantable land, and access to markets across the Americas and Asia.
“This explosive growth in Peru is something we plan to tap into quickly,” said BVT sales manager Ian Collinson. “Peru is a strong fit for BVT expansion because growers in Peru are early adopters of new technology”
The company will also pursue other crop markets in the country, said BVT CEO Ashish Malik.
“Not only does Peru use bees for pollination of blueberries,” he remarked, “but there is a great opportunity in avocados, which will be a new crop for us, for which Peru is the third largest producer.”
BVT has begun the development work needed to enter Peru, including trial and regulatory requirements.
The first step is to secure an Import and Experimental Use Permit, which would enable field trials of BVT’s proprietary Clonostachys rosea CR-7 microbial strain (CR-7), delivered through the company’s bee delivery system.
Once the permit is secured, the company plans to run berry and avocado trials at the start of the next growing season for each crop type. The data from the trials will be used for regulatory submission.
“In line with BVT’s global expansion strategy, we will be working with local partners in Peru to accelerate the process of launching and expanding in this market,” said Mr. Malik.
BVT is an agriculture technology company that has developed a natural precision agriculture system that replaces chemical pesticides.
Shares in Bee Vectoring Technologies International Inc. (BEE) are up 1.82 per cent, trading at $0.28 per share as of 9:47 am EST.
