By David Willey, Benzinga
As we enter a new year, the continued steep rise in food prices has shaken consumer confidence and had ripple effects in decreased spending across the economy. While the recent Consumer Price Index (CPI) report reveals that inflation is finally slowing, consumers have still had to pay a hefty price tag for food items – which have seen a 10.6% price increase from last year.
There is hope, however, that as the growing and harvesting season in the northern hemisphere ends with the onset of winter, the pressures from the Ukrainian supply-chain disruption will abate. As the focus now shifts to food production in the southern hemisphere, agricultural technology (AgTech) companies will have the opportunity to find solutions to increase southern hemisphere food production.
The AgTech industry, which looks to make crop growth and development more efficient, is currently worth over $18 billion. Some companies involved in seeking opportunities in the AgTech space include FMC Corp. (NYSE: FMC) and Tyson Foods Inc. (NYSE: TSN) and AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI).
In particular, AgriFORCE is developing AgTech innovations and building out a robust intellectual property (IP) portfolio to creatively solve industry problems. As we enter a new year, the company can look back on how it has advanced its ambitious vision through its multiple initiatives.
Harnessing Initiatives For A Stronger Future
AgriFORCE is powering AgTech to transform farming through a new, integrated vision of crop development. The company’s four pillars that build out this distinct vision include its dedication to automation and artificial intelligence, nutrients, and micropropagation and genetics. These pillars drive the company’s commitment to consulting on AgTech knowledge, building out its proprietary IP, and developing its innovative controlled environment agricultural (CEA) solutions.
As part of solving problems in the industry, AgriFORCE is moving forward with several important initiatives. These include FORCEGH+, its proprietary facility design that delivers a cutting-edge CEA using advanced AgTech. FORCEGH+, which recently received a patent, harnesses the company’s IP to deliver optimized, sustainable food production, and it is capable of cultivating higher-quality crops under extreme macroclimates.
AgriFORCE also recently received a patent for its UN(THINK) food brand. The company is transforming the wheat market, which currently sees over $212 billion in revenue, through its 100% natural wheat flour which is both a non-genetically modified organism (GMO) and more nutritiously dense than traditional wheat.
The company is also strengthening its powerful IP portfolio and will be able to expand its consulting activities with the planned acquisition of leading European AgTech consulting firm, Delphy. This planned merger allows AgriFORCE to chase down the best solutions, optimizing its global footprint to become a leading player in the AgTech market.
To learn more about the company, visit its website here.
This article was originally published on Benzinga here.
AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI; AGRIW) is an agtech company focused on building an integrated agtech platform that combines the best technology, intellectual property and knowledge to solve an urgent problem – providing the best solutions to help drive sustainable crops and nutritious food for people around the world. Looking to serve the global market, the Company’s current focus is on North America, Europe and Asia. The AgriFORCE vision is to be a leader in delivering plant-based foods and products through an advanced and sustainable agtech platform that makes positive change in the world—from seed to table.
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