With this development, the Canadian firm entered a new geography and an additional market segment.
Avivagen Inc. (VIV:TSX.V) received its first order from Thailand for OxC-beta Livestock, a fully oxidized beta carotene (OxBC) premix for adding to certain animal feeds to improve the health of the livestock. The company has shown it to be “effective and economic in replacing the antibiotics commonly added to livestock feeds,” noted a news release.
Also a first, the proprietary product will be used in sow feeds. “Commercial validation in Thailand is expected to positively influence adoption for use in sows in other countries,” the release indicated.
Sows comprise a significant portion of the swine feed market, and they require a large amount of feed, with one sow consuming about 1 metric ton of it annually. For instance, Thailand is home to an estimated 860,000 sows, and the count in the Philippines is around 560,000. Thus, the sow market presents significant additional market potential for sales of OxC-beta Livestock.
In the Philippines, where OxC-beta Livestock has been sold for a year, uptake of it continues to increase. Whereas in 2016, livestock consumed 11.75 million metric tonnes of feed annually, it now consumes 17 million metric tonnes. This suggests similar growth may also happen in Thailand. Last week Avivagen announced the sale of 2 metric tonnes of OxC-beta Livestock in the Philippines.
Along with the Philippines and Thailand, OxC-beta Livestock is currently for sale in Taiwan and New Zealand.[NLINSERT]
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