INDIANAPOLIS, IN--(Marketwire - Mar 5, 2013) - Stevia Corp. (OTCQB: 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 that the first major crop harvest in Vietnam is on track and on schedule.
As previously announced, Stevia Corp anticipates its current crop harvest in Vietnam to generate in excess of USD$2 million in revenues from more than 1,000 tons of harvest. Current field reports indicate that the projected harvest expectations will easily be met.
George Blankenbaker, Stevia Corp President, comments, "Based on early test field results and current field crop conditions, we anticipate a strong harvest during March, April and May."
Expansion of the current model is planned in August and the Company intends to increase production by a factor of 5 times by next spring subject to adequate capital.
Mr. Blankenbaker adds, "We have already established the infrastructure to support our projected growth and we have farmers on a waiting list to participate in our program. Our major advantage is that proficient farmers are able to more than double their income by participating in our program. This creates a ripple effect of support and enthusiasm from all parties involved, making it much easier to manage high growth expansion."
Additional revenue is expected to be generated from the sale of the Company's proprietary products formulated with stevia extracts, probiotics and enzymes. More than 100 farm operators have tested the products with excellent results and the Company is now making the products commercially available for sale under license.
Mr. Blankenbaker concludes, "Our farm management model will generate the quickest path to profitability and near-term growth, but long-term there is significant opportunity to leverage our technology and increase revenue and margins and build brand value from our growing portfolio of proprietary products."
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. (OTCQB: 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. 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, size and timing of first major crop harvest, increase in harvest with adequate capital, ability for farmers to double their income, product licensing, 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.