Rice Seed Approvals Continue to Validate Future Product Line
BEIJING--(BUSINESS WIRE)--Origin Agritech Limited (NASDAQ GS: SEED) ("Origin"), a leading technology-focused supplier of crop seeds and agri-biotech research in China, today announced it has approved six new rice hybrid varieties to its product line for distribution during the next sales season in 5 provinces throughout Southwest regions of China. The Company now has a total of 67 rice seeds approved for sale throughout China.
The new rice seed products include Zhu Liang You 3, Nei Xiang You 9, Ling You 2, Zhong You 11, De Liang You 2 and Zhu Liang You 4290 approved in Jiangxi, Yunnan, Chongqing, Hunan and Guangdong provinces and should provide greater product coverage for our Company throughout China. These additional products help the Company to continue to accumulate germplasm, as the Company continues to plan to lead the genetically modified product development in China. These conventionally bred hybrid seeds form the vehicle to transport the genetic traits to the plants, and thus serve a valuable role.
The rice seed approval process is the same as the process for corn seed, and is one of the most rigorous regulatory requirements in all of China. The approval requires the applicant to undergo two growing seasons of monitored growth in at least five different locations in the region. Seeds submitted for testing are planted together with control seeds, which are typically the most popular seeds in the testing regions. Only seeds that have an increased yield of 5-8% or higher versus the control seeds are cleared to proceed to the second year of testing.