SAO PAULO - Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W), an agri-food tech company specializing in sustainable solutions, has announced the launch of its commercial operations in Brazil. The company's entry into the Brazilian market comes after ensuring its products adhere to local regulations through its exclusive local distributor.
The move is significant as Brazil's fruit exports climbed by 6% in 2023, with a total of 1.06 million tons of fruit leaving the country, generating over $1.2 billion in revenue—a 26.73% increase from the previous year. Save Foods aims to support Brazilian fruit packers in maintaining quality and complying with the European Union's stringent residue limits.
Dan Sztybel, CEO of Save Foods Ltd., stated, "Our eco crop protection solution is precisely what Brazilian packers need to continue their growth in the EU market."
The company's presence in Brazil is timely, given the increasing need for suppliers of fresh produce to adopt sustainable practices in line with the EU's Farm to Fork Strategy and the European Green Deal.
Local CEOs Antonio Lunguinho of Oxytrade Comercio and Ricardo Picard of Endeavor Biologics expressed enthusiasm for the partnership with Save Foods. They anticipate that the collaboration will transform post-harvest treatment for produce like limes and mangos, ultimately benefiting the entire supply chain.
Endeavour Biologicos and Oxytrade Comércio, the Brazilian partners, are well-established in the agri-biotech and trading sectors, respectively, with Endeavour focusing on biological crop protection and Oxytrade on efficient import/export solutions.
Save Foods operates through three subsidiaries, including Save Foods Ltd. for post-harvest treatments, Nitrousink Ltd. for reducing greenhouse gas emissions, and Plantify Foods, Inc. for clean-label healthy food options.
This expansion is based on a press release statement and is part of Save Foods' strategy to enhance food safety, quality, and sustainability from production to consumption. The company's entry into Brazil represents a strategic move to address the needs of a major global player in fruit exports and to promote environmentally friendly agricultural practices.
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