SEED: Six Hybrid Rice Seeds Approved in China [delayed]

Ridgeland, MS, MAR 19, 2008 (EventX/Knobias.com via COMTEX) -- SEED | news | PowerRating | PR Charts -- Origin Agritech Limited (SEED) announced it has approved six new rice hybrid varieties to its product line for distribution during the next sales season in 5 provinces throughout Southwest regions of China. The Company now has a total of 67 rice seeds approved for sale throughout China. The rice seed approval process is the same as the process for corn seed, and is one of the most rigorous regulatory requirements in all of China. The approval requires the applicant to undergo two growing seasons of monitored growth in at least five different locations in the region. Seeds submitted for testing are planted together with control seeds, which are typically the most popular seeds in the testing regions. Only seeds that have an increased yield of 5-8% or higher versus the control seeds are cleared to proceed to the second year of testing. Following the announcement, shares spiked to the $5.25 area before losing the gain and were currently trading at $5.15, up .6% on the day.

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