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CANADIAN STEVIA COMPLETES CALIFORNIA HARVEST

ACAMPO - Canadian Stevia Corporation has announced that its 100%-owned subsidiary California Stevia Corporation (CalStevia) has completed its successful fall harvest of 21 acres of natural and organic Stevia at its facility in Acampo.
 
According to a company source, discussions are in progress with groups from Asia, Europe and Mexico for sale of the product from the harvest and current inventory.

"Results from these discussions can be expected in the very near future and revenue will be reflected accordingly in the future financials," he said.

The stevia plant produces a natural sweetener/dietary supplement that can be cultivated to produce a calorie-free substance, in contrast to the traditional commodities which are artificial, high-intensity sweeteners.

Natural and ultra-pure Stevia, which is low calorie and is naturally and organically grown in certified areas in California, is developed, produced and distributed by California Stevia Corporation.

VENEZUELA SEEKS AGRICULTURAL INVESTMENT

CARACAS - Venezuela expects its agricultural sector to grow between 6% to 8% next year, strengthened by a $3 billion investment plan to boost domestic crop production in the world's No. 5 oil exporter.

Deputy Agricultural Minister Hector Garzon has said the government would seek $1 billion in financing from the Central Bank, $1 billion from private institutions and $1 billion from the ministry budget for the seven-year plan to guarantee domestic food supplies.

President Hugo Chavez has drawn fire from opponents when he urged the Central Bank to release up to $1 billion from international reserves to finance the government's domestic food production program.

Critics said Chavez planned to illegally tap reserves for social projects. A Central Bank director responded that the government could not use reserves directly for financing its programs.

But Garzon said the bank could use "other mechanisms" to make the financing available.

The populist Chavez has said his agricultural and land reforms will ease poverty by increasing local crop output and reduce Venezuela's reliance on imports for basic food supplies. But opponents say such policies are encouraging illegal squatters on private farms and sowing economic chaos.

Venezuela ships in around 60% of its total consumer needs and imports sugar, cereals, rice and soy among other crops mainly from South America, Canada and the US.
 
Garzon also said Venezuela plans to import 25,000 tons of raw sugar from Brazil this year for its strategic reserves.

The country had imported 200,000 tons of mainly raw sugar though the year from various countries, he said.

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