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Casterra Ag Ltd. Announces Successful Completion of Castor Growing Season in Brazil

Casterra Ag Ltd., an innovator in the agriculture technology sector specializing in cultivating castor seeds for bio-based industries

Key Takeaways:

  1. Casterra Ag Ltd. successfully completed its castor growing and harvesting season in Brazil.
  2. Seeds from the Brazilian harvest will be shipped in Q3 2024.
  3. The castor harvesting season has started in Africa, expected to supply the majority of seeds for 2024.
  4. Casterra anticipates meeting all existing orders, amounting to approximately $8.4 million.
  5. Casterra continues to improve its production capabilities and expand its global seed production operations.

Casterra Ag Ltd. Completes Successful Castor Growing Season in Brazil

Casterra Ag Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), announced the successful completion of its castor growing and harvesting season in Brazil. The company, which provides an integrated solution for industrial-scale cultivation of castor based on elite seed varieties, serves bio-based industries including biopolymers and biofuels. The harvested seeds are scheduled for shipment during the third quarter of this year.

Progress in Brazil and Africa

Casterra is also progressing with its castor harvesting season in Africa, which is expected to supply the majority of seeds for 2024. This development is in line with previous announcements that the castor seeds produced in 2024 across both Brazilian and African territories will meet all existing orders, totaling approximately $8.4 million.

CEO’s Statement

Yoash Zohar, CEO of Casterra, expressed pride in the company’s achievements. “Current castor yields from the harvest in Brazil show an impressive improvement in our production capabilities. I am very proud of our professional team, which in past months invested, and keeps investing, time and efforts working closely with our subcontractors to ensure the best agricultural practices and crop performance, to produce Casterra’s high quality castor seeds. We also expect to see such positive performance in our African territories where the majority of our seed production is taking place,” stated Zohar.

Leading the Industrialization of Castor Farming

Casterra is positioned at the forefront of the industrialization of castor with its unique elite varieties, characterized by high oil yield, compact and short cycle plants. The company’s global seed production operations span Africa and Brazil, supported by growing protocols designed for efficient large-scale farming. This strategic positioning enables Casterra to lead the way in industrialized castor farming, enhancing its capability to meet market demands.

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