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China Green Agriculture Starts Delivery of Compound Fertilizers to India

2011-04-13 17:23 2115

XI'AN, China, April 13, 2011 /PRNewswire-Asia/ -- China Green Agriculture, Inc. (NYSE: CGA; "China Green Agriculture" or the "Company"), a producer and distributor of humic acid ("HA") based compound fertilizers, blended fertilizers, organic compound fertilizers, slow-release fertilizers and highly-concentrated water-soluble fertilizers and mixed organic-inorganic compound fertilizers through its wholly owned subsidiaries in China, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. ("Jinong") and Beijing Gufeng Chemical Products Co., Ltd. ("Gufeng"), today announced that Gufeng began shipping the first 20,000 Metric Ton ("MT") batch of finished compound fertilizers to India under the 165,000 MT export contract (the "Agreement") it signed in December 2010 with SinoAgri Holding Company Limited ("SinoAgri"). As one of the largest domestic fertilizer traders in China, SinoAgri has been Gufeng's long-term business partner for fertilizer exports.


According to the Agreement, Gufeng will export 165,000 MTs of binary acid compound fertilizer products to India during calendar year 2011. This represents 29.7% of the Company's recently expanded annual fertilizer production capacity. Starting April 1, 2011, Gufeng has been shipping 20,000 MTs of finished compound fertilizer from its Beijing factory for container loading in Port Qinhuangdao and Tianjin, respectively 150 miles and 100 miles away.

"With the launch of Gufeng's new 200,000 MT production line last week which brought Gufeng's annual production capacity to 500,000 MTs, we have the ability to produce the 165,000 MTs under this Agreement and expect that 50,000 MTs will be shipped by June 30th, the end of our 2011 fiscal year," commented Mr. Tao Li, Chairman and CEO of China Green Agriculture. "While we will continue to work with our long-term export partners, we will also pursue opportunities to develop new export clients in the future," added Chairman Li, "Export growth is critical to our ability to achieve our $3 billion annual revenue goal under our recently announced ten-year growth plan."

About China Green Agriculture, Inc.

The Company mainly produces and distributes humic acid-based compound fertilizers and other varieties of compound fertilizers through its wholly-owned subsidiaries, Jinong and Gufeng. Jinong produces and sells 146 different kinds of fertilizer products, all of which are certified by the PRC government as Green Food Production Materials, as stated by the China Green Food Research Center. Jinong currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products in 21 provinces, four autonomous regions and three central-government-controlled municipalities in the PRC. For the three months ended December 31, 2010, the top five provinces (or municipalities) of fertilizer sales accounted for 29.2% of total revenues. The five provinces (or municipalities) and their respective percentage contribution to total fertilizer revenues were Hebei (7.0%), Jilin (6.8%), Liaoning (6.4%), Shaanxi (4.8%) and Beijing (4.1%).  Jinong had 598 distributors in China. Gufeng had 157 distributors including some large state-owned enterprises. Gufeng and its wholly-owned subsidiary, Beijing Tianjuyuan Fertilizer Co., Ltd., are Beijing-based producers of compound fertilizer, blended fertilizer, organic compound fertilizer and mixed organic-inorganic compound fertilizer. Gufeng produces and sells over 300 different kinds of fertilizer products, and has over 150 distributors nationwide. For more information, visit http://www.cgagri.com. The Company routinely posts important information on its website.

Safe Harbor Statement

This press release contains forward-looking statements concerning the Company's business, products and financial results. The Company's actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of the ten-year growth plan and various other factors beyond the Company's control. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risk factors detailed in the Company's reports filed with the SEC. China Green Agriculture undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release, except as required by applicable law or regulation.


 

 

 

 

For investor and media inquiries, please contact:

 

 

 

 

 

 

 

 

China Green Agriculture, Inc.    

 

 

 

 

Mr. Ken Ren, Chief Financial Officer    

 

 

 

 

Tel:   +1-530-220-3026

 

 

 

 

Email: kenren@cgagri.com  


 

 

 

 

 

 

 

 

Christensen    

 

 

 

 

Rene Vanguestaine    

 

 

 

 

Tel:   +1-646-209-2574

 

 

 

 

       +852-6686-1376

 

 

 

 

Email: rvanguestaine@christensenir.com

 

 

 

 

 

 

 

 

or

 

 

 

 

 

 

 

 

Kathy Li

 

 

 

 

Tel:    +1-480-614-3036

 

 

 

 

Email: kli@christensenir.com

 

 

 

 

 

 

 

 

 

 




Source: China Green Agriculture, Inc.
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NYSE:CGA
Keywords: Agriculture Chemical
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