- Agricultural biotech company, MustGrow Biologics (MGRO) has begun testing its TerraMG bio-pesticide against Panama Disease in Colombia
- The company first announced the successful importation of the bio-pesticide into Colombia in June, 2020
- MustGrow’s laboratory testing will focus on treating the disease which is currently devastating the global banana industry
- The company expects to receive laboratory results sometime in 2020’s fourth quarter
- MustGrow Biologics (MGRO) is down 10 per cent and is currently trading at C$0.36 per share
Agricultural biotech company, MustGrow Biologics (MGRO) has begun testing its TerraMG bio-pesticide against Panama Disease in Colombia.
Fusarium wilt TR4, known as Panama Disease, is a highly destructive fungal pathogen, which is currently devastating the global banana industry. The disease has caused significant damage to banana plantations in South America, prompting Colombia to declare a National State of Emergency in 2019.
In June of this year, MustGrow announced that it had successfully imported its bio-pesticide formulation, TerraMG, into Colombia. The company stated that this was for the purpose of testing TerraMG against Panama Disease, in hopes of providing a solution to the pathogen.
The laboratory testing has now commenced, and will focus on treating Panama Disease.
MustGrow is optimistic about the tests, in light of previous independent efficacy studies conducted in Canada. These previous studies proved that TerraMG was able to gain 100 per cent control of Fusarium oxysporum, a soil-borne pathogen that is similar to Panama Disease.
However, the company is going up against a formidable enemy that is yet to be beaten. Panama Disease is particularly damaging to Cavendish bananas, which represent 50 per cent of bananas produced worldwide.
The pathogen is also currently untreatable, can cause 100 per cent yield loss, and remains viable in the soil for decades after.
MustGrow’s CEO, Corey Giasson, commented on the company’s testing of TerraMG in Colombia.
“This is an exciting program for MustGrow, as we push the boundaries of our bio-pesticide into a new continent with a currently untreatable disease.
“With both banana producers and banana consumers rooting for us, we look forward to potentially providing a much-needed solution for Colombian farmers,” he said.
The company expects to receive results from the laboratory testing sometime in 2020’s fourth quarter.
MustGrow Biologics (MGRO) is down 10 per cent and is trading at C$0.36 per share at 12:11pm EDT.