DUBAI, UAE, October 1, 2018 /PRNewswire/ --
Verticroft, a world leader in VCC (vertical crop culture) and the largest producer of sustainable Alfa hay in the world expects alfa Hay to reach 200 USD per tonne by 2019 representing a further 5% price increase by the end of the year.
The Global Alfa-hay market is anticipated to grow by 5.5% CAGR until 2022. With prices already up 46.15% on average in the last 12 months to an average price of 190 USD per tonne.
Verticroft remains bullish with a price target for the forage crop of 200USD per MT.
Alfa hay recorded an all time ten year high in July 2015 at an average price of 225 USD per MT.
Adrian Mason CEO of Verticroft said: "Prices have skyrocketed this year, several factors including low crop yields last year and high demand this winter are aﬀecting the price, it's been a tough summer in Europe for traditional growers with the heatwave and drought."
Being strategically located in Spain, and the middle east allows Verticroft to Produce High Quality Alfa-hay at a fraction of the cost of traditional growers in the region. Our custom built, climate-controlled environments have a current annual production capacity of 150,000 Metric tonnes per year from 100,000 SQF of commercial warehouses located around the world.
Traditional Alfa hay would require circa 30,000 Acres of Land to produce what we at Verticroft produce in a fraction of the space.