Marrone Bio Innovations, Inc. (NASDAQ:MBII) (MBI), a leading provider of bio-based pest management and plant health products for the agriculture, turf and ornamental and water treatment markets, has submitted the registration package for its new bioherbicide, MBI-014, to the United States Environmental Protection Agency (EPA).
Weeds are a major source of yield losses for most cropping systems. According to various market research reports, herbicides account for 40% of the $50 billion global pesticide market. Of the approximately $7.2 billion chemical pesticides sold in the U.S. each year, nearly $4 billion are chemical herbicides.
Grower surveys repeatedly show that weed control is the number one cost of organic food production since chemical herbicides are not allowed. In organic growing systems, herbicide options are extremely limited, consisting almost entirely of non-selective soaps and acids that typically require repeat applications, lack residual activity, only affect plant areas into which they come in direct contact, and sometimes cost more than hand weeding. According to the Organic Trade Association, organic food sales reached $45 billion in the U.S. and is the fastest growing segment of food, growing an average of 9.1% annually since 2008.
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