Stevia Corp. enters cooperative agreement with Vietnam-based National Institute of Medicinal Materials to support research into stevia crop development
November 29, 2011
– 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 a cooperative agreement with the National Institute of Medicinal Materials ("NIMM") to support innovative research into Stevia crop development.
NIMM is a respected government supported institute located in Hanoi, Vietnam performing comprehensive research, development and post graduate training in the identification, acclimatization and commercialization of medicinal plant resources. NIMMs expertise extends beyond national borders through a series of scientific and technical cooperative efforts with many institutes in foreign countries including Russia, Germany, China, India, Hungary, Korea, Japan, France, Thailand, Australia and Malaysia. Stevia Corp. is very pleased that NIMM has a mutual desire to support the research and development of stevia in order to meet the growing international demand for stevia products and the resultant opportunity to provide a new economic stimulus for Vietnam.
As part of the cooperative agreement, NIMM has made available certain land, buildings, facilities and access to specialized equipment for the study of stevia and its extracts.
Mr. George Blankenbaker, Stevia Corp. President, comments, "We are exceedingly pleased by the support and vote of confidence we are receiving in Vietnam to develop stevia. There is shared confidence that stevia can be developed and become a new source of economic stimulus for the Vietnam farmers and the overall economy. NIMM will be a valuable resource for our technology partner, Agro Genesis, to carry out their research and we are very fortunate to have NIMM's support."
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.
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.
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.