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Lavoro Limited (NASDAQ:LVRO, LVROW))))), the first U.S.-listed pure-play agricultural inputs distributor in Latin America, announced a partnership with Stenon, a growing German agriculture innovator that has gained the support of The Production Board, an agriculture focused investment holding company based in San Francisco, United States. We believe Stenon's FarmLab is an innovative tool that utilizes its sensor technology to generate cost efficient on-demand soil analysis in real time, a first-of-a-kind service in Latin America.
In partnership with Stenon, Lavoro expects to offer soil analyses to its customers, enabling the precise identification of levels of chemical elements necessary for plant growth and yield optimization, such as nitrogen, phosphorus and magnesium, in addition to measuring other soil parameters such as temperature, pH and moisture in seconds.
FarmLab is already available in Europe and in Asia. However, this would be the first time that it would be deployed in Latin America. We believe that its application has generated positive outcomes for corn, potato and vegetable growers in these regions. We expect the first tests to take place with clients of Lavoro in the Paraná state of Brazil.
Ruy Cunha, CEO of Lavoro, stated, "Our partnership with Stenon is an extension of our strategy to offer Lavoro's customers access to new tools that we believe can elevate their productivity. Through FarmLab's integration with our technical sales representatives, we expect to be able to deliver specific product recommendations with the potential to increase yield while minimizing costs, land use, energy consumption, water, and carbon footprint."
The measurement of soil nitrogen and other soil parameters is done directly on the farm through Stenon's easy-to-use FarmLab device, and the information captured by it is stored, allowing the farmer to have a full record of all measurements and diagnoses. With the analyses provided by the device, the farmer can initiate the necessary soil treatments in real-time without the need to send the sample to a laboratory, as is traditionally done.
Mr. Cunha continued, "One of the main concerns of Brazilian farmers is nitrogen and phosphorus deficiency, which is a result of the region's natural acidity. A real-time analysis can immediately identify the quantities of these important nutrients and where appropriate, suggest a corrective action based on the amount of necessary replacement, which we believe will improve the productivity gain and cost savings for the farmer."
Posted In: LVRO
