INDIANAPOLIS, IN, Nov 17, 2011 (MARKETWIRE via COMTEX) -- Stevia Corp. (OTCBB: STEV) ("Stevia Corp." or the "Company"), a farm management company focused on the economic development of stevia, the fastest growing product in the alternative sweetener sector, is pleased to announce its entry into a Farm Management Agreement with Stevia Ventures Corporation ("SVC") of Hanoi.
Under the terms of the agreement, Stevia Corp. will supply stevia seedlings and additional products and services utilizing the G-Farm* system and Stevia Corp. will also have rights to off-take the non-stevia crops produced by inter/multi-cropping as part of the G-Farm system. This agreement provides Stevia Corp. with its first major customer for its farm management services and technologies.
SVC is currently growing stevia on a trial basis under a supply contract with Stevia Corp. in a number of areas in North Vietnam, including the provinces of Bac Giang, Hoa Binh, Nam Dinh, Thanh Hoa, Hung Yen, Hai Duong, Thai Binh, Da nang, Tp Ho chi minh, Dac Nong, Lam Dong, Tay Ninh, Ha Tay, Bac Ninh, and Hanoi.
In what is considered a significant investment, SVC is dedicating nine agronomy graduates to the project fieldwork, which demonstrates a serious commitment and investment in the project. SVC understands that their ability to learn and implement the proprietary protocols under development by Stevia Corp. and its technology partner Agro Genesis will yield major economic dividends when large scale commercial production of the crop is underway.
Mr. George Blankenbaker, Stevia Corp. President, comments, "We are excited that the value of our G-Farm systems is being recognized by local growers and we see the investments in quality personnel by our grower partners as indicative of their dedication to the stevia opportunity and their desire to study and properly understand our systems so that they can successfully implement the proprietary protocols that our technology partner, Agro Genesis, is developing for large scale commercialization."
Further details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information visit: www.steviacorp.us.
*G-Farm Systems is a trademark of Agro Genesis Pte. Ltd.
About Stevia Corp. (OTCBB: STEV) Stevia Corp. is a farm management company focused on best practice agronomic competency in order to deliver high value stevia through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques. To date, the Company has acquired two grower supply contracts and three nursery fields in Vietnam. For more information visit: www.steviacorp.us.
About the Stevia Industry Sector Within two years of the USA market opening, Nielsen-based retail consumption data indicated almost $1 billion of retail sales for the sector. Market research group Mintel has said it expects sales of stevia sweetened products to top $2 billion in 2011. In 2010, stevia products were launched across thirty-five countries and in 38 categories. Zenith International estimates worldwide sales of stevia extract reached 3,500 tons in 2010 with an overall market value of $285 million and forecasts the global market for stevia will reach 11,000 tons by 2014, requiring the tripling of stevia leaf production at the farm level to keep pace with consumer demand. For more information visit: www.steviacorp.us.
Notice Regarding Forward-Looking Statements This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, deployment and adoption of G-Farm system, revenue derived from farm management agreements, profitable harvests for farmers that adopt the G-Farm system, future success of certain technologies, potential future acquisitions, implementation of effective farm systems, commercial scaling, the development of new business opportunities, entry into new markets, worldwide sales of stevia extract and sweetened products, growth of stevia leaf production and growth of the stevia global market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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SOURCE: Stevia Corp.
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