eBusiness Weekly
Michael Tome
HARARE – Seed-Co Limited has introduced a number of seed varieties while some are at incubation stage as the seed firm continues to seek ways of growing its business and market dominance.
These are climate-smart, high yielding and stable hybrid maize varieties that are expected to yield much more than currently available products within respective maturity groupings.
Three new maize hybrids in the medium to late series have been officially released in Zimbabwe while four new maize seed hybrids for the South African market were approved for internal release.
Eleven varieties are in advanced stages of observation pending release.
Maize Lethal Necrosis Disease (MLND) tolerant maize varieties in East Africa with seven hybrids are now progressing to second year of national testing in Kenya and are now at advanced stages of releasing.
According to Seed Co the varieties are a product of intense breeding efforts, and have been proven to be stable across seasons and across agro-regions and will result in improved yields.
The seed services company has also introduced two sugar bean varieties officially.
Additionally, a new soya bean variety has been released and registered for commercialization locally whilst two rust resistant soybean varieties have been released in Tanzania.
Soya beans demand soared in the previous financial year, as the seed firm sold over 6 000 tonnes a milestone ahead of the traditional lower than 2 000 tonnes mark owing to the very high demand for the crop despite the rising costs.
Meanwhile the company posted an 11, 14 percent growth in operating profit to $24 million for the year to March 2019 from $22 million reported in 2017.
Revenue increased steadily by 16 percent to $73, 4 million from the $63, 4 million realised in the same period last year.
Profit before tax grew to $28 million up from $24 million translating to a 15 percent improvement from the previous year mark.
