Save Foods Starts Commercial Activity in Brazil Unhindered by Regulatory Barriers
- None.
- None.
Entering the Brazilian market represents a strategic move for Save Foods, Inc., considering Brazil's significant position in the global fruit export sector. The 6% rise in exports and the impressive 26.73% revenue increase year-over-year highlight a growing market with increasing financial importance. This move could potentially expand Save Foods' revenue streams and diversify its market risks.
The focus on eco crop protection aligns with global trends towards sustainability and could give the company a competitive edge, especially in the EU market, which is known for its stringent regulations on agricultural imports. The adoption of sustainable practices by Save Foods could also attract environmentally conscious investors and consumers, potentially increasing the company's market share and brand value.
The commencement of commercial activities in Brazil by Save Foods is likely to impact its financial performance positively. The partnership with local distributors and the commitment to purchasing minimum quantities signify a calculated entry into the market with a clear path to revenue. Investors should monitor the company's quarterly earnings and any announcements regarding the market penetration and sales performance in Brazil to gauge the financial impact of this expansion.
It is crucial to assess how the costs associated with regulatory compliance and the establishment of new distribution channels will affect the company's short-term profitability. However, the long-term financial outlook could be bolstered by Brazil's robust export figures and the EU's Farm to Fork Strategy, which may drive demand for Save Foods' solutions.
Save Foods' entry into the Brazilian market with eco crop protection solutions is timely, given the Farm to Fork Strategy and the European Green Deal's emphasis on sustainability. These solutions are designed to help produce comply with stringent EU residue limits, which can be a significant barrier for exporters.
The technology's ability to maintain fruit quality while adhering to environmental standards is likely to resonate well with Brazilian packers and exporters. The potential impact on the agricultural sector could be substantial, as the adoption of such technologies can increase crop yields, reduce waste and improve the overall sustainability of farming practices.
Brazil ranked third globally in fruit export in 2023
Neve Yarak, Israel, March 11, 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 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, as announced on February 26, 2024.
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. NTWO OFF 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. NTWO OFF 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 NTWO OFF 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
FAQ
What is Save Foods, Inc.'s (SVFD) eco crop protection solution targeted towards in Brazil?
How much did Brazil's fruit exports increase by in 2023?
Who are the CEOs representing Save Foods in Brazil?
What are the key factors driving the need for sustainable practices in Brazil's fruit and vegetable suppliers?
What produce will Save Foods initially focus on in Brazil?
