Ceres Shares Rise 10% in Pre-Market on Announcement of Joint Market Development Agreement in Brazil with Sygenta

Energy crop company Ceres

and Syngenta announced today that they have extended a joint market development agreement in Brazil. The companies will move forward with their efforts to promote the use of both sweet sorghum and high biomass sorghum at Brazilian ethanol mills. Under the renewed agreement, Syngenta and Ceres will continue to collaborate on field evaluations with mills. Syngenta will evaluate its portfolio of crop protection products alongside Ceres hybrids, while Ceres will provide both seed and research support. Both companies will coordinate outreach to ethanol mills and develop industry training programs. Syngenta indicated that it plans to move forward with its evaluations aimed at registering additional crop protection products for sorghum. "We see sweet sorghum as a potential complement to sugarcane in ethanol production and we are working together with Ceres to identify the best protocols to fully protect and amplify the inherent potential of this crop," said Adriano Vilas Boas, Global Marketing Director for Sugarcane at Syngenta.