Stevia Corp (STEV) an international farm company focusing on stevia and hemp products reported a stronger than expected spring harvest today. The company reported a harvest of more than 2,000 tons of crops which was more than double the 2013 harvest. Most of this came at the back end in the fourth quarter.
The company also announced that in addition to achieving their yearly objective they are now in talks to supply a major Fortune 500 company. The CEO of Stevia Corporation George Blankenbaker had the following comments, "We are continuing to diversify our crop portfolio and add international clients. To date, we are working with the largest food conglomerate in South Korea, a major importer to Europe, and we are in talks with a major Fortune 500 company to supply its South East Asian operations. Our model is working, now.
The CEO continued to talk about increased margins, "With our production base firmly in place, we are focused on developing the US market and increasing our margins with higher value added products. Real Hemp LLC, our US subsidiary, will play a central role in this effort. We are currently confirming final details of our initial products for the US market with the intent to go live with our Real Hemp website in June 2014." it is a matter of scaling it."
Shares in Stevia Corp (STEV) have traded in a range for the last 18 months after sliding from the $1.50 level at the end of 2012. It’s one of those companies you could see having the long term appetite for success, they are in a good space, products sell well on the shelves, and it’s growing.
Recently we have seen the stock come to life somewhat after recently making a move from $0.08 right up to over $0.30 again following positive comments made on the stock, and a fair amount of positive news on the company.
The potential news and contracts to come out of Stevia if you believe what the CEO is saying could be substantial. At one point shares in Stevia were trading around $3.50 and many traders believe it will get back to being north of a dollar once people take notice on the street.
In trading today Stevia was trading higher on the back of this positive harvest reported. The stock was up by more than 7$ in early trading at a price of $0.189. The current 52 week high in shares is $0.339.