FIVE POINTS, Calif., Nov. 11, 2013 /PRNewswire/ -- The November 2013 issue of Hay & Forage Grower, distributed November 10, 2013, included an article titled "Weather Tightens Alfalfa Seed Supply" which discusses weather issues that have impacted seed production and inventory levels in the non-dormant alfalfa seed market, possibly resulting in a below normal supply of alfalfa seed in 2014. The article was based on interviews of industry executives from several alfalfa seed companies, including S&W Seed Company (Nasdaq symbol "SANW").
Mark Grewal, president and chief executive officer of S&W Seed, is quoted in the article saying, "About 20% of the alfalfa seed acres were 'wiped out' in California's Imperial Valley, a major production area. All the major alfalfa-seed-producing companies were affected in some way. The common seed market got hurt the worst because it was the last to be harvested. For the last two to three years, there hasn't been any inventory for non-dormants. S&W is okay, but we're only okay because we have an Australian operation also. It was a decent harvest year there. It wasn't a bumper crop; they just finally had a crop after two back-to-back poor years."
In April of 2013, S&W acquired Seed Genetics International, the largest alfalfa seed producer in the Australia. The vast majority of non-dormant alfalfa seed sold in international markets is produced either in California or Australia, which are in opposing hemispheres and therefore have opposing growing seasons. S&W believes that this year round production and geographical diversity, greatly reduces the risk of individual weather events, which by definition are localized. Based on S&W's supply diversification, and contrary to what other companies may be experiencing, the Company believes that its current inventory of seed is more than adequate to meet anticipated demand, due to the strength of production in Australia during the 2013 harvest season.
The entire article can be found at hayandforage.com/alfalfa/weather-tightens-alfalfa-seed-supply or at www.swseedco.com/investors/.
S&W cannot verify the statements made by the third parties in the article.
About S&W Seed Company
Founded as a partnership in 1980, S&W Seed Company is now a global agricultural corporation, headquartered in the Central Valley of California. The company is the largest producer of non-dormant, alfalfa seed varieties in the world, with production operations in the San Joaquin and Imperial Valley's of California, as well as in South Australia. The company has worldwide sales and distribution through both a direct sales force as well as dealer-distributors. The company's proprietary varieties are designed to meet the shifting needs of farmers that require high performance in poor and highly saline soil conditions and have been verified over decades of university-sponsored trials. Additionally, the company is utilizing its research and breeding expertise to develop and produce U.S.-based stevia leaf. Stevia is an all-natural, zero calorie sweetener from the food and beverage industry. For more information, please visit www.swseedco.com.
Safe Harbor Statement
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in the company's Annual Report on Form 10-K for the fiscal year ended June 30, 2013, and in other filings made by the Company with the Securities and Exchange Commission.
SOURCE S&W Seed Company