FIVE POINTS, Calif., Nov. 20, 2014 /PRNewswire/ -- S&W Seed Company (Nasdaq: SANW), one of the world's leading alfalfa seed companies, today announced that it has expanded its distribution capabilities with its first sale into the Republic of Turkey. Expansion into new countries and geographies is consistent with S&W's plan to continually broaden its sales and distribution capabilities with the objective of achieving extended geographic diversification. The alfalfa seed market in Turkey is estimated to be approximately 4 million pounds annually, comprised of a combination of non-dormant, dormant and semi-dormant alfalfa seed varieties. Additionally, the Company is in testing with a number of other potential distribution partners in the Republic of Turkey to best develop this long-term growth opportunity for S&W.
Historically, the alfalfa seed market in Turkey has been characterized by lower price point and lower quality alfalfa seed varieties. S&W believes there is an opportunity to provide certain segments of the market with many of its leading alfalfa seed genetics, ranging from its non-dormant varieties to its dormant alfalfa seed varieties that will provide strong economic benefits to alfalfa hay farmers through increased hay yields and, consequently, profits. Initially, S&W will be providing to the market in Turkey certain of its leading Australian-based genetics, which are currently registered for sale within the Republic of Turkey. Over the coming years, the company expects to sell additional varieties as registration approvals are granted.
Mark Grewal, chief executive officer of S&W Seed Company commented, "As we have stated previously, one of our key objectives is to expand our distribution capabilities to further diversify our geographic reach and lessen our reliance on any one market. This expansion into the Republic of Turkey represents our continued success with this initiative. While we expect modest sales during this initial year, as additional varieties become registered and our presence within the country grows, we believe that Turkey can become another strong market for S&W in the coming years."
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 brands in the world, with production operations in the San Joaquin and Imperial Valleys 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 brands 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 for 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, 2014, its Quarterly Report on Form 10-Q for the period ended March 31, 2014, and in other filings made by the Company with the Securities and Exchange Commission.
SOURCE S&W Seed Company