HOW BIOSTIMULANTS CONTRIBUTE TO SOCIO-ECONOMIC DEVELOPMENT
Biostimulant products help improve farmer incomes by helping ensure that more of the nutrients applied to crops are actually used by crops. Farmers are also able to secure higher prices for their produce when crop quality is higher. Improved quality has a positive impact on storage and conservation, giving farmers more time to choose the best moment to sell their crops at advantageous prices.
With the global population growing, the role that biostimulants play in fostering increased yields may help ensure that everyone can get enough to eat. Many biostimulant products currently on the market are adapted to the growing conditions in many of the transition economies in the EU’s immediate neighbourhood.
By making existing agricultural practices more efficient and improving post-harvest storage, biostimulants help reduce waste throughout the agri-food chain. Less waste means lower costs, which ultimately benefit the consumer who has access to high-quality, affordable food.
Biostimulant producers employ a wider range of workers in production sites, warehouses, distribution chains, offices and laboratories. Many biostimulant companies are small enterprises outside of major economic centres. Those companies provide welcome sources of employment — often highly skilled — and demand for local services in rural areas, where the economy may be sorely in need of diversification.
Because of the relatively modest size of biostimulant companies, they often conduct their research in partnership with universities and independent research institutes. This model of open innovation fosters the exchange of knowledge and innovation and creates demand for researchers and other highly skilled workers, thus encouraging more students to enter the scientific fields that will help drive sustainable economic growth in Europe in coming years.