AIM-listed fertilizer producer Harvest Minerals has announced that Brazil's Ministry of Agriculture, Livestock, and Food Supply (MAPA) has approved the registration of Harvest's organic, multi-nutrient KP Fértil® as a simple mineral fertilizer.
Under MAPA regulations KP Fértil is now an authorized source of macro- and micro-nutrients that are essential for maintaining soil health and improving production, the company said.
Brian McMaster, Chairman of Harvest, said: "Having our KP Fértil registered as a fertilizer in Brazil is a major milestone and its importance cannot be underestimated. Being recognised as a fertilizer by MAPA is the highest level of certification that KP Fértil needs to achieve and is indisputable recognition of the quality of our product.”
KP Fértil is produced at the company’s mining project in Arapua, Brazil, and is described by the company as an organic slow-release source of K, P, Ca, Mg and other micronutrients.
In January 2022, the company released its sales figures for 2021. Accumulated sales by the end of December 2021 were 85,030 tonnes, representing a 57% increase over 2020 sales.
In the final quarter of 2021, Harvest Minerals sold 22,984 tonnes of KP Fértil , which was 105% higher than management budget of 11,200 tonnes, the company said.
The initial 2022 sales guidance was given at 150,000 tonnes.
Commenting on the year-end results, McMaster said: "2021 was a breakout year for Harvest. Our annual sales performance has grown exponentially over the last three full years as the quality and value of our product has been recognised by the market. We have seen repeat clients increasing their orders while adding new clients to our portfolio at a pace faster than anticipated. With a high rate of client retention, continued penetration of our product and very strong end of the year, we have high hopes for 2022.”
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