CropLogic to open two new sales zones targeting apples and hops
Published 11-APR-2019 11:36 A.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Award-winning global agricultural technology group CropLogic Ltd (ASX:CLI) has informed the market that its Washington State operations are underway this season with the first CropLogic realTime site set up and providing real-time data.
RealTime monitors and tracks key crop metrics, such as soil moisture and irrigation, and converts observations into data 24/7.
This information is then collated in a concise and accurate form providing growers with the data required to make informed decisions regarding agricultural practices, a key factor in optimising the size and quality of harvests, as well as reducing costs.
Two new sales zones will be established to target apple and hops growers.
Ideally situated in productive region
CropLogic’s Washington State operations are located in the midst of the highly productive Columbia Basin, Washington State.
Washington State has some of the most productive growers in the US with yields double the national average in some crops and the largest producing state of other crops such as apples and hops.
The take-up of CropLogic realTime by these growers is a significant endorsement of the company’s agritech solutions.
CropLogic realTime was launched in Washington State in 2017 in collaboration with a leading local agronomy services company which subsequently joined the CropLogic group of companies.
This company brought extensive scientific knowledge of the Columbia Basin, where it had been working since 1987.
CropLogic chief executive James Cooper-Jones highlighted the strong sales growth and scope for further expansion in saying, “Orders for CropLogic realTime have exceeded management’s expectations and represent a 50% increase on orders in the 2018 season.
“CropLogic will also open two new sales zones, one to the north and one to the west to gain market share in other key crops in Washington State, including apples and hops, in addition to the row crop (potato, onion, carrots) industry in this region, which is in keeping with the group’s growth strategy.”
Tapping into industry growth
The company is no newcomer when it comes to apples and hops as its realTime technology was trialled with growers of the crops in the 2018 season after providing agronomy services for a period of time.
Management sees the increasing interest from growers of these crops as testament to the scientific backing and performance of the technology.
The opening of the aforementioned two new zones offers an addressable market of between $9.3 million and $18.6 million.
Washington State is the largest apple producing state in the US with the industry valued at approximately US$2.4 billion.
The hops industry is also a vibrant one with the acreage devoted to growing the crops increasing steadily over recent years.
The Washington State hops industry is currently valued at US$382 million.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.