The stock price of Save Foods, Inc. (NASDAQ: SVFD) – an agrifood tech company specializing in eco crop protection that helps to reduce food waste and ensure food safety – increased by over 11% during intraday trading today. Investors are responding positively to the company announcing that its SaveProtect Organic crop treatment for extending the shelf-life of fresh fruits and vegetables has been listed by the Organic Materials Review Institute (OMRI), an international non-profit organization that provides an independent review of products that are intended for use in certified organic production and processing. OMRI Listed products may be used in certified organic production and processing under the USDA National Organic Program.

The organic fruit and vegetable market is the largest and the fastest-growing segment of the global organic food market and expected to reach USD $68.50 billion by 2028. And organic foods have gained popularity in part because of their health benefits. The health consequences related to non-organic produce have been proven with around 385 million people currently falling ill from pesticide poisoning each year.

To address risks related to pesticide use, the EU Commission has launched the “Field to Fork” initiative, a program that aims to drastically reduce the use of pesticides in the food supply chain. And similar initiatives are underway in the US, with the Biden administration issuing regulatory changes for the pesticide industry.

The extended shelf life offers growers, retailers, and consumers a longer window in which to transport, sell, store and consume produce. Save Foods’ solutions 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.

“The organic fruits and vegetables industry has a very difficult task contending with short shelf life and limited available solutions, with high waste and transportation issues resulting in higher costs. With OMRI listing, Save Foods is now better positioned to deliver significant value to the organic market by providing efficient and affordable solutions to address these challenges.”

— Dan Sztybel, CEO of Save Foods’ Israeli subsidiary

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.