(Alliance News) - Eden Research PLC said Tuesday its three EU-registered ingredients have been approved for use in organic farming.
Shares in the crop protection, animal health and consumer products firm were 9.8% higher in morning trading in London at 9.88 pence each.
The ingredients - geraniol, eugenol and thymol - have been added to the EU's Organic Production Regulation.
"Pursuant to this approval, Eden's products will provide organic growers with the high levels of efficacy often associated with conventional chemical pesticides, thereby providing the company's growers with another alternative and sustainable solution," the Cirencester-based firm said.
Eden noted organic farming covered 12.6 million hectares of land in the EU in 2017, representing 7% of total agricultural land.
Between 2012 and 2017, land assigned for organic growing in EU Member States increased by 25%.
Chief Executive Sean Smith said: "We are very excited by this approval for EU organic farming as this opens up a new commercial opportunity for Eden which is relevant to all of the products that we have developed and continue to develop using our three EU registered active ingredients.
"It is clear that there is growing demand from consumers within the EU for organic products and this is matched by rapidly growing production. Consequently, areas assigned by EU Member States for organic agriculture have grown by 70% in the last ten years with organic retail sales reaching EUR34 billion in 2017."
By Paul McGowan; paulmcgowan@alliancenews.com
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