By Michael Susin
Plant Health Care PLC shares rose on Monday after the company said it has secured a five-year distribution agreement with Nutrien Ag Solutions to supply its Saori soybean seed treatment in Brazil.
Shares at 0823 GMT were up 0.95 pence, or 8.6%, at 11.95 pence.
The biological-products provider to the agriculture industry said it expects to generate revenue from sales of more than $750,000 in the first half of 2022, which should grow to more than $5 million by 2025.
In 2022, the company said it expects to treat around 150,000 hectares of soybeans, and more than one million hectares by 2025.
Plant Health said the Brazilian market for Saori is currently estimated at 40 million hectares of soybean fields.
Write to Michael Susin at [email protected]
