Seed Co to prioritise research, development
SEED firm, Seed Co Limited (SCL) will continue to prioritise research and development, focusing on drought-tolerant and high-yielding seed varieties to combat regional climatic challenges and evolving agricultural needs, NewsDay Farming understands.
This comes as the recently ended 2023/24 agricultural season saw southern Africa greatly impacted by an El Niño-induced drought.
Thus, SCL recently introduced new seed varieties such as the SC673 maize hybrid, a medium-maturing, drought-tolerant variety and the soybean SC SZ08, which is tailored for regions with short rainy seasons and high temperatures.
Addressing journalists recently, SCL group chief financial officer Tineyi Chatiza said the company had recently introduced new varieties that were drought-tolerant as a way to mitigate climate change.
“We have recently introduced new varieties, including the SC673 maize hybrid, a medium-maturing, drought-tolerant variety with Cobrot resistance and a high yield potential of up to 15MT/ha [metric tonnes per hectare]. For soybean, the SC SZ08 new variety is tailored for short rainy seasons and hot regions, offering drought tolerance and yields of up to 4,9MT/ha,” Chatiza said.
“The SC W9104 wheat variety delivers high yields of up to 10 MT/ha with a white flour colour. Seed Co continues to develop several other varieties in its pipeline, aiming to regularly refresh its product portfolio to address the impacts of climate change and meet changing consumer demands.”
In SCL’s half-year financial report for the period ended September 30, 2024, released last week, it revealed it will meet the diverse needs of farmers by offering a resilient seed mix that can thrive in drought-prone and high-rainfall conditions.
This adaptability, SCL revealed, strengthened the business’s value proposition, ensuring farmers have dependable options irrespective of climatic fluctuations.
Additionally, SCL will continue expanding its regional export opportunities, building on synergies with its regional affiliate, Seed Co International Limited.
SCL group chief executive officer Morgan Nzwere said the company’s prospects in Zimbabwe were promising, owing to the continued growth in local sales and export volumes driven by regional supply deficits and robust demand, mainly for maize seed.
However, he added that delayed rains and unfavourable rainfall forecasts were dampening cropping activity.
“We acknowledge persistent challenges across several markets, but we also see potential benefits from recent fiscal and monetary policy measures aimed at fostering economic stability and growth,” Nzwere said.
“We are well-positioned to meet the diverse needs of farmers by offering a resilient seed mix, ensuring dependable options irrespective of climatic fluctuations.”
SCL revealed a remarkable 73% increase in revenue during the half year to US$18,9 million, from the 2023 comparative, driven by growth in winter cereal sales and exports, which contributed to the overall 24% volume increase to 10 625MT.
This surge reflected strong market demand and the company’s successful expansion of its product offerings and export capabilities.
In the broader region, SCL’s expansion is supported by strong performances in Zambia, Tanzania, Malawi, Ethiopia and Nigeria.
The group is leveraging on growing demand for maize across multiple geographies, including Ethiopia, which saw its first commercial sales.
However, potential risks include election-related uncertainties in Mozambique and weather-related risks in southern Africa.-newsda
