Stevia Corp. partners with Asia Stevia Investment Development, Agricultural Science Institute of North Central Vietnam to research, develop long-term advanced agricultural techniques for large-scale stevia production in Vietnam
December 13, 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 Asia Stevia Investment Development JSC (" SV Group"), a grower partner based in the city of Vinh, Vietnam, and the Agricultural Science Institute of Northern Central Vietnam ("ASINCV") to research and develop long term advanced agricultural techniques for large scale crop production of stevia.
ASINCV is a non-profit scientific institute that operates under the direct administration of the Vietnam Academy of Agricultural Sciences and is responsible for the research activities in the field of agricultural sciences and technologies in terms of crops, farming and extension systems to motivate the socio-economic development of Northern Central Vietnam.
With five research departments, two functional units and three related satellite research centers, ASINCV conducts extensive research into selection and breeding of high yield crops, research and development of high profit farming systems alongside technological processes and innovations as well as the development of extended goals in education and training programs.
SV Group is a local grower partner that has entered into a Supply Agreement with Stevia Corp. to supply stevia leaf. Stevia Corp. also provides farm management services and technical support to SV Group under a Farm Management agreement and Stevia Corp. has signed an agreement to provide technical support for the cooperative agreement with ASINCV and for the parties to mutually share the benefits derived from the cooperative research.
ASINCV has made available certain land, buildings, equipment and staff for the purpose of conducting stevia research, which provides valuable infrastructure and support for Stevia Corp.'s technology partner, Agro Genesis, to carry out their scientific research.
Mr. George Blankenbaker, Stevia Corp. President, comments, "We are very pleased by this arrangement with ASINCV and SV Group, as they are very supportive of our stevia activities and share a common goal to make stevia a major economic contributor for the agricultural industry in Vietnam. It is difficult to quantify the value of having such local support at all levels working to achieve economic success for a new high yield crop in Vietnam."
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.