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BIOCERES CROP SOLUTIONS CORP.

(BIOX)
  Report
Delayed Nasdaq  -  04:00:01 2023-03-21 pm EDT
10.89 USD   -1.27%
03/16Indonesia Oks GMO drought-tolerant wheat from Argentina's Bioceres
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03/07Bioceres Crop Solutions to Participate in the 35th Annual Roth Conference
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03/07Bioceres to market GMO wheat in Argentina this year after Brazil win, CEO says
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Indonesia Oks GMO drought-tolerant wheat from Argentina's Bioceres

03/16/2023 | 06:30pm EDT
FILE PHOTO: As war, drought hit global crops, Argentina gambles on GM wheat

BUENOS AIRES (Reuters) - The Indonesian government has approved a variety of GMO wheat for human consumption designed to better resist drought, leading Argentine biotech firm Bioceres Crop Solutions Corp and developer of the HB4 wheat told Reuters on Thursday.

The latest HB4 wheat authorization moves beyond the genetically modified grain's approved use in animal feed, and comes at a time when a large swath of Argentina's most-productive farmland has been hard hit by historic drought conditions.

The authorization by the Asian country marks a milestone for GMO wheat, which was considered taboo among many consumers until just a few years ago, but has gained more acceptance due in part to concerns about food security and climate change.

Indonesia is the largest global wheat importer along with Egypt, while Argentina is one of the world's top grains suppliers.

According to a U.S. Department of Agriculture (USDA) forecast, Indonesian buyers are expected to purchase 11 million tonnes of wheat in the current 2022/2023 harvesting season.

Indonesia has become Argentina's second largest wheat importer, behind Brazil, with Argentine wheat exports to the Asian country reaching 1.34 million tonnes last year, according to official data.

The GMO authorization follows a market approval by Brazil earlier this month.

Bioceres Chief Executive Federico Trucco told Reuters last week that the company plans to increase production of its proprietary HB4 variety in Argentina, adding the company plans to mainly focus on working with "seed multipliers" to increase seed reserves.

(Reporting by Maximilian Heath; Editing by David Alire Garcia and Sandra Maler)

By Maximilian Heath


ę Reuters 2023
Stocks mentioned in the article
ChangeLast1st jan.
BIOCERES CROP SOLUTIONS CORP. -1.27% 10.89 Delayed Quote.-9.48%
EURO / ARGENTINE PESO (EUR/ARS) -0.05% 220.7579 Delayed Quote.14.78%
EURO / BRAZILIAN REAL (EUR/BRL) -0.05% 5.6358 Delayed Quote.-0.61%
US DOLLAR / ARGENTINE PESO (USD/ARS) 0.00% 205.01 Delayed Quote.15.04%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 -2.89% 680.5 End-of-day quote.-11.52%
All news about BIOCERES CROP SOLUTIONS CORP.
03/16Indonesia Oks GMO drought-tolerant wheat from Argentina's Bioceres
RE
03/07Bioceres Crop Solutions to Participate in the 35th Annual Roth Conference
BU
03/07Bioceres to market GMO wheat in Argentina this year after Brazil win, CEO says
RE
03/07Brazilian agency to expand GMO wheat tests, Embrapa official says
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03/06Bioceres Crop Solutions Announces Brazil's Regulatory Approval of Drought Tolerant HB4 ..
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03/03Bioceres Crop Solutions Gets Brazil Regulatory Approval For Drought Tolerant Wheat HB4
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03/03Bioceres Crop Solutions Announces Brazil┤s Regulatory Approval of Drought Tolerant HB4«..
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02/09Bioceres Crop Solutions Swings to Fiscal Q2 Loss While Revenue Rises
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More news
Financials (USD)
Sales 2023 436 M - -
Net income 2023 3,21 M - -
Net Debt 2023 - - -
P/E ratio 2023 121x
Yield 2023 -
Capitalization 690 M 690 M -
Capi. / Sales 2023 1,58x
Capi. / Sales 2024 1,30x
Nbr of Employees -
Free-Float 45,1%
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Mean consensus BUY
Number of Analysts 4
Last Close Price 10,89 $
Average target price 27,05 $
Spread / Average Target 148%
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Managers and Directors
Federico Trucco Chairman & Chief Executive Officer
Enrique Lopez Lecube Chief Financial Officer & Executive Director
Jorge Wagner Chief Operating Officer
Natalia Zang Independent Non-Executive Director
Ari Solomon Freisinger Independent Non-Executive Director
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