Ag Tech Investments News

Neve Yarak Israel, July 18, 2022 (GLOBE NEWSWIRE) -- Save Foods, Inc. (NASDAQ: SVFD) (FSE:80W) (“Save Foods” or the “Company”), an agri-food tech company specializing in eco crop protection that helps to dramatically reduce the use of pesticides, reduce food waste and ensure food safety, today announced a new partnership with Korair, that together with Accentis group, will introduce Save Foods’ treatments in Morocco. Morocco is a major exporter of fruits and vegetables worldwide, with an estimated 60% of its agricultural exports delivered to the European Union (EU).

Dror Eigerman, the Company’s advisory board member, commented: “Pesticide residues is one of the main challenges of global agricultural trade. From my experience as the CEO of Galilee Export, I can state that the European market is enforcing some of the world’s tightest regulations regarding the use of pesticides. Furthermore, many leading European retailers are demanding an even lower threshold than the official regulations. Moroccan fruits and vegetables sales to the EU set new records in 2020. That year Morocco exported to the EU 793 million kilograms of vegetables worth €972 million and 651 million kilograms of fruits worth €961 million. Using Save Foods’ treatments that reduce the use of pesticides will add Moroccan exporters another layer of confidence to enter the European gates”, concluded Mr. Eigerman.

Dan Sztybel, CEO of Save Foods Ltd., the Company’s Israeli subsidiary commented: “Tightening global regulations, mainly in the European Union, related to food safety and quality assurance, are driving increased interest in Save Foods’ treatments globally. Major exporting countries, such as Morocco, seek new solutions to address changing market dynamics and better meet the regulation criteria and customers’ needs. Meeting regulation criteria is a “must have” factor for produce exporters.” Mr. Sztybel went on saying: “Post-harvest losses in Morocco are estimated between 20 to 40%, and we believe we can be part of the solution to this growing problem. Moreover, the extended shelf life provided by Save Foods’ eco crop protection treatment offers growers, retailers and consumers a wider window to transport, sell, store and consume produce. Save Foods’ treatments are non-toxic and easy to apply, and they not only extend shelf life, but provide a high level of food safety that benefits consumers.

Source: https://www.globenewswire.com/