Save Foods Navigates Brazilian Regulation and Commences Commercial Activity Through Exclusive Local Distributor
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The commencement of Save Foods' commercial activities in Brazil represents a strategic expansion into one of the world's leading fruit exporters. The 6% increase in Brazil's fruit exports and the corresponding 26.73% revenue growth underscore the country's growing significance in the global agricultural market. This expansion could potentially enhance Save Foods' revenue streams and diversify its market presence, considering Brazil's ranking as the third-largest fruit exporter globally.
From a market research perspective, the adoption of Save Foods' eco crop protection solutions by Brazilian packers is a response to the increasing global demand for sustainable agricultural practices. The EU's Farm to Fork Strategy and the European Green Deal are pushing for higher standards in food safety and environmental sustainability, which could give Save Foods a competitive advantage if their solutions are well-received in the market.
Analyzing the financial implications of Save Foods' entry into the Brazilian market, we should consider the potential for increased revenue through the adoption of their crop protection solutions. Given the substantial increase in Brazil's fruit export revenue, Save Foods' alignment with EU residue limits and sustainability standards could enable Brazilian exporters to maintain and possibly expand their market share within the EU. This partnership could lead to a higher demand for Save Foods' products, ultimately contributing positively to their financial performance.
Investors should monitor the uptake of Save Foods' products in the Brazilian market, as the agreed minimum purchase commitments from their local distributor could provide a stable and predictable revenue source. However, it is also important to evaluate the scalability of their solutions across different types of fruits and other markets, which could further influence the company's financial outlook.
The emphasis on sustainable agricultural practices is a critical factor in the long-term success of agri-food companies. Save Foods' eco crop protection solutions are positioned to meet the stringent environmental and health standards set by the EU, which could lead to wider adoption beyond Brazil. By enabling Brazilian farmers to adhere to these standards, Save Foods is not only contributing to the environmental goals of the European Green Deal but also promoting sustainable development within the agricultural sector.
This proactive approach to sustainability can have a ripple effect, encouraging other companies in the industry to adopt similar practices. The long-term benefits of such a shift include improved soil health, biodiversity conservation and reduced exposure to harmful chemicals for both workers and consumers. The company's commitment to sustainability could also enhance its brand reputation and foster loyalty among environmentally conscious consumers.
Brazil ranked third globally in fruit export in 2023
Neve Yarak, Israel, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), a pioneer Agri-Food Tech company offering sustainable solutions for agriculture and plant based food, announced today the commencement of commercial activity in Brazil. The Company's entry into the Brazilian market was facilitated by the Company's local exclusive distributor after confirming that Save Foods’ solutions comply with local regulations. With regulatory barriers unhindered, the Company's distributor is set to start marketing an ordering process.
According to Fresh Plaza, Brazil's fruit exports witnessed a
“As the country is put under pressure to comply with the Farm to Fork Strategy aligned with the European Green Deal, it has become increasingly crucial for suppliers of fresh fruit and vegetables to proactively adopt sustainable practices and stay ahead of evolving standards,” said Antonio Lunguinho, the CEO of Oxytrade Comercio and Ricardo Picard, the CEO of Endeavor Biologics. “We are thrilled to represent Save Foods in Brazil and combine our strengths with Save Foods' innovative solutions. We are glad Save Foods’ products are cleared for distribution and we are looking forward to start our commitment to buying minimum quantities. We believe this partnership is poised to revolutionize the post-harvest treatment of fresh produce starting with limes and mangos, benefiting farmers, distributors, and consumers alike.”
About Endeavour Biologicos and Oxytrade Comércio
Endeavour Biologicos is a Brazilian Agri-Biotech company focused on biological crop protection. They partner with biotech companies and have a valuable product portfolio for Brazil's crop protection market.
Oxytrade Comércio is a Brazilian trading company with expertise in import/export. They have strong ties to chambers of commerce, including the Brazil-Israel Chamber of Commerce, and provide efficient solutions to customers and partners.
About Save Foods:
Save Foods, Inc. is an innovative agri-food tech company that through its three operational arms delivers integrated solutions for improved safety, quality, and sustainability every step of the way from field to fork. Save Foods Ltd., Save Foods' majority-owned Israeli subsidiary, focuses on post-harvest treatments in fruit and vegetables to control and prevent pathogen contamination, significantly reduce the use of hazardous chemicals, and prolong fresh produce’s shelf life. Nitrousink, Ltd., Save Foods' majority-owned Israeli subsidiary, contributes to tackling greenhouse gas emissions, offering a pioneering solution to mitigate N2O (nitrous oxide) emissions, a potent greenhouse gas with 265 times the global warming impact of carbon dioxide. Nitrousink Ltd., aims to promote agricultural practices that are both environmentally friendly and economically viable. Plantify Foods, Inc., Save Foods' minority-owned Canadian subsidiary listed on the TSXV, offers a wide range of clean-label healthy food options that are nutritious, gluten free, non-allergenic, use whole natural ingredients, and are easy to prepare. For more information on Save Foods Ltd. and Nitrousink Ltd. visit our website: https://savefoods.co/
Forward-looking Statements:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on our current expectations, they are subject to various risks and uncertainties, Actual results, performance or achievements could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including market conditions as well as those discussed under the heading “Risk Factors” in Save Foods' registration statement on Form S-1 filed with the SEC on October 26, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, we undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. We are not responsible for the contents of third-party websites.
Investor Relations Contacts:
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
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