July 30, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — S&W Seed Co. (NASDAQ: SANW) said that it has entered into a five-year agreement with PureCircle, Ltd., a producer and marketer of stevia products.  The agreement provides for PureCircle to purchase stevia leaf from S&W and its subsidiary, Stevia California, bringing the two companies a step closer towards their mutual goal of growing stevia in the continental United States on a scale necessary to help support demand from major North American-based food and beverage manufacturers.

Stevia — known as sweetleaf, sweet leaf, sugarleaf, or stevia — is grown for its use as a sweetener and sugar substitute.

According to S&W Seed, the new contract contains a confidential pricing arrangement and provides strong commercial incentive for S&W to accelerate commercial production of stevia leaf in California, involving significant acreage, with confidence that PureCircle will be a reliable customer.

S&W said it will focus on providing PureCircle with a reliable domestic U.S. source of stevia leaf. The company said it anticipates supplying PureCircle with a minimum of 1000 metric tons (2.2 million pounds) of stevia leaf over the first two years of the agreement.

The stevia leaf supply contract expands an existing engagement between the two firms under which S&W is currently running trials in California with proprietary PureCircle varieties.

The relationship with S&W will provide support for PureCircle's recently announced research and varietal development project, in conjunction with Michigan State University, focused on the next generation of steviol glycosides beyond Reb A.

PureCircle’s stated goal is to provide extracts for use in a range of food and beverage applications.

California-based S&W Seed was founded in 1980, in the Central Valley of California. The company provides alfalfa seed varieties. S&W also offers seed cleaning and processing at its 40-acre facility in Five Points, California. In fiscal 2010, the company launched a business expansion initiative centered on mass producing stevia leaf in the U.S. in response to growing global demand for the all-natural, zero calorie sweetener from the food and beverage industry

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