Origin Agritech Ltd. (NASDAQ: SEED) the Beijing-based agriculture technology company, announced five newly developed sweet and waxy corn hybrid varieties with different nutritional components have completed registrational trails and are pending production approval. Stocks in the firm were in minus country early Friday morning.
The newly developed corn hybrids include a sweet corn hybrid containing 45% more folic acid and other hybrids with significant increases in vitamin E, phenolic compounds, and other nutritional value-added characteristics.
The demand for high quality sweet and waxy corn for human consumption has grown significantly in the Chinese market in recent years. Origin's newly developed nutritional value-added hybrids will address this high value market.
In addition, Origin continues to extend its research effort with Nutritionally Enhanced Corn (NEC) for animal feedstock. Origin is testing hundreds of new NEC hybrids in dozens of locations across the major corn growing areas in China in 2022.
In crop seed biotechnologies, Origin Agritech's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture.
Over the years, Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits.
SEED shares lost 14 cents, or 1.4%, to $9.61.
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