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Ceres Announces Fiscal Year 2013 Financial Results
Date:11/21/2013

resistance, in our pipeline for use in sorghum as well as in row crops," he said.

RECENT BUSINESS HIGHLIGHTS

  • For the 2013-2014 season, Ceres expects to evaluate its sorghum hybrids at approximately 50 mills and mill suppliers. These evaluations include approximately 10 hybrids, including commercial and pre-commercial products. Plantings are expected to cover up to approximately 1,000 hectares compared to approximately 3,000 hectares the previous season due primarily to a greater focus among mills on field performance, which can be determined at a smaller scale than evaluations needed for confirming industrial performance. Approximately 30 mills evaluated the company's sorghum products last season.
  • The company has expanded the number of locations and scope of field evaluations of  pre-commercial products and advanced breeding materials in Brazil in order to better position its future products among various geographies, growing conditions and production practices. These breeding materials have demonstrated, among other characteristics, step increases in yields, greater yield stability, longer periods of industrial utilization and greater adaptation to various growing conditions and harvest times.
  • Former Brazil Agricultural Minister Roberto Rodrigues has agreed to chair a sorghum advisory council established by the company's Brazilian subsidiary. The council will provide strategic advice and support for the introduction of the biofuel crop in Brazil. Members represent companies in industrial ethanol processing, agricultural production and bioenergy.
  • In October, Ceres announced that the company extended a joint market development agreement with Syngenta in Brazil. Under the renewed agreement, Syngenta and Ceres will continue to collaborate on field evaluations with mills. Syngenta indicated that it plans to move forward with its evaluations aimed at registering additional crop protection products for sorghum.
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