Climate-Smart Commodities Program to Benefit 180,000 Farms, Agritech Leads the Way

USA News Group Commentary Issued on behalf of Bee Vectoring Technologies International Inc.

VANCOUVER, BC, May 9, 2024 /PRNewswire/ -- USA News Group – In order to help farmers advance conservation and climate-smart agriculture, the USDA recently made $1.5 billion available as part of US President Biden's Investing in America Agenda. The newly-available capital is part of several climate-smart agriculture investments the USDA has made since the beginning of the current Administration's reign, which have been made through the Inflation Reduction Act, and the Partnerships for Climate-Smart Commodities program, which have been estimated to support over 180,000 farms and over 225 million acres in the next 5 years. According to analysts at Straits Research the Smart Agriculture Market is projected to reach US$36.24 billion by 2030, growing at a CAGR of 10.8%, while Markets and Markets predicts the Precision Farming Market to grow to US$21.9 billion by 2031, growing at a CAGR of 10.7%. As farmers and the agriculture industry works to produce environmentally friendly food that meets these goals, several agritech companies are working behind the scenes to help, including Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF), Nutrien Ltd. (NYSE: NTR) (TSX: NTR), The Mosaic Company (NYSE: MOS), CF Industries Holdings, Inc. (NYSE: CF), and Bunge Global SA (NYSE: BG).

With its innovative system that utilizes commercially reared bees to deliver biological pesticide alternatives directly to crops, Bee Vectoring Technologies International Inc. (BVT) (CSE: BEE) (OTCQB: BEVVF) is poised to disrupt the $250 billion crop protection and fertilizer market. Biological agricultural products, often referred to as biologicals, are expected to eventually supplant chemical pesticides and fertilizers. According to analysts at DataHorizzon Research, the biologicals sector is forecasted to grow at a CAGR of 13.3%, reaching a market size of US$45.3 billion by 2032.

BVT recently updated its corporate partnership strategy, securing new international trials and expanding the use of its flagship asset, CR-7. The company also announced the results from a Michigan State University trial, demonstrating that CR-7 effectively reduces early disease infection and fungal disease by over 90% compared to untreated plots, matching the efficacy of conventional chemical treatments.