Ceres Signs Alfalfa Development Deal

Agricultural biotech Ceres Inc. announced Monday that it has signed an agreement with Forage Genetics International to develop and market improved alfalfa for livestock feed. Forage Genetics in Nampa, Idaho specializes in alfalfa breeding and will work closely with the Thousand Oaks firm to incorporate Ceres’ traits into Forage Genetics’ alfalfa varieties. The companies will begin assessing alfalfa varieties sometime next year, which will determine commercial rollouts. “This collaboration provides a new outlet for our traits, and we are pleased to be working with such a well-established partner,” Ceres Chief Executive Richard Hamilton said in a statement. “We believe our historical focus on improving biomass yields and quality can provide substantial advantages for this large and growing market.” Dairy and meat consumption is on the rise worldwide, which has led to an increase in demand for cattle feed. Ceres anticipates this collaboration will help establish the company in the growing forage industry. Ceres shares closed up 5 cents or 5.1 percent to $1.02 on the Nasdaq.