Food: Great news if you like asparagus - Root's tech helps farmers produce more of it

Israeli agtech Roots Sustainable Agricultural Techologies (ASX:ROO) says its tech can increase yields of asparagus.

Roots’ Zone Temperature Optimization (RZTO) technology is able to heat or cool crop roots as needed within one system.

The company has trialed its tech with success on a variety of plants from cannabis crops to flowers. But asparagus is the latest crop to pass the test.

Results from seven harvest cycles show asparagus that received Roots’ treatment saw a mean increase of yield by 90 per cent.

Asparagus could be one of the plants Roots’ tech benefits the most. This is because it is highly susceptible to cold temperatures.

But if reaped correctly, asparagus plants can produce multiple crop harvests over a long life cycle of up to 15 years.

Roots says the global market for fresh asparagus is $US20bn ($30.4bn) and it plans to capitalise on it.

“Results from this early study are very encouraging for Roots and further validate our RTZO technology and its applicability to a large number of commercial groups,” CEO Boaz Wachtel said.

He also reported rising interest in Roots’ technology as companies seek to become more self-sufficient rather than reliant on supply chains vulnerable to global disruptions such as COVID-19.

Despite the positive news, shares edged back 4 per cent.

In other ASX food news today:

Dairy co-operative Fonterra (ASX:FSF) announced its earnings over the last nine months had actually increased compared to the prior corresponding period. In the nine months to April 30, earnings were $NZ815m ($759.3m), which is 58 per cent higher than the same time last year.

Fonterra also announced its milk price would be around $NZ7.20 per kilogram of milk solids. This would see the co-operative contribute $NZ11bn to the New Zealand economy.