INDIANAPOLIS, IN--(Marketwired - May 21, 2013) - Stevia Corp. (
Stevia Corp generated slightly over $2 million revenue for the quarter ending March 31, 2013 and has generated $1 million revenue during the current quarter ending June 30, 2013 to reach the $3 million revenue target for the spring harvest.
The Vietnam project will also be highlighted and used as a case study by the Vietnam Ministry of Finance for publication in the local Journal of Finance. The study will emphasize the Company's novel tripartite model engaging the farmers and community and will highlight the economic benefits to the farmers as well as the skill transfer that enabled the farmers to produce international standard crops for export.
The company is also in discussion with major buyers from Europe and Korea that have the potential to double the tonnage of sales for next spring's harvest in 2014.
George Blankenbaker, Stevia Corp President, comments, "The real credit should go to the local team, partners, community organizations, and supporting governmental agencies. Our success is dependent on everyone adopting a team approach and we are very proud of the cooperation and support that has been developed by all of those who participated."
Mr. Blankenbaker also added, "The biggest benefit to the Company is that more farmers want to join our program making it relatively easy to expand production with a government endorsed model in place and the success has gotten the attention of international buyers looking for suppliers who can produce international standard crops on a consistent basis."
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.
About Stevia Corp. (
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. 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, revenue and earnings forecasts, use of the Company's project as a case study by the Vietnam Ministry of Finance, potential European and Korean purchasers of the Company's future harvests, additional farmers potentially joining the Company's program, business strategy, worldwide sales of stevia products and stevia extracts, 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.