XI'AN, China, Oct. 20 /Xinhua-PRNewswire-FirstCall/ -- SkyPeople Fruit Juice, Inc. (OTC Bulletin Board: SPFJ) ("SkyPeople" or "the Company"), a leading processor and manufacturer of concentrated apple, kiwifruit, pear and other fruit juices and fruit products in the People's Republic of China, today announced that it has officially launched production of mulberry vinegar and kiwifruit vinegar beverages at the Company's Zhouzhi production base.
SkyPeople is the first company to introduce production of mulberry vinegar and kiwifruit vinegar beverages in China. Until now, apple vinegar has been the only fruit vinegar beverage available in China's domestic market.
The demand for fruit vinegar beverages has been steadily growing in the international market since the mid 1990s, particularly among female consumers, due to their health benefits. Compared to traditional fruit juice beverages, fruit vinegar beverages contain more vitamins, amino acids, and essential minerals. Some fruit vinegar characteristics, such as acetic acid, lactic acid, amino acids, glycerol, and aldehyde have been shown to dilate blood vessels and improve blood circulation.
While the demand for fruit vinegar beverages has been increasing in China, the average per capita consumption of vinegar products, including cooking vinegar, vinegar-based health products, and fruit vinegar beverages, is only 0.19 kg per year, or roughly 11% and 14% of the consumption levels of Japan and the U.S., respectively.
"We are proud to be the first company to introduce mulberry vinegar and kiwifruit vinegar beverages to the Chinese market. As a leading niche fruit juice producer in China, SkyPeople has always been dedicated to introducing high quality, healthy fruit juice and related products to consumers," said Mr. Yongke Xue, chief executive officer of SkyPeople. "As the fruit juice market continues to evolve, we are confident in our ability to develop new products which will satisfy consumer demands. What's more, we believe that our large and unique product range will set us apart from competitors and fuel sustained growth for SkyPeople."
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc. is a holding company for Shaanxi Tianren Organic Food Co., Ltd. Shaanxi Tianren is a company organized according to the laws of the People's Republic of China. SkyPeople's main products are concentrated apple, kiwifruit, pear and other fruit juices for domestic and international consumers. Its brand, HEDETANG, is positioned as a high quality, healthy and nutritious juice concentrate and clear juice product used both as an ingredient component in other products and an end-use juice concentrate product. Shaanxi Tianren owns the largest kiwifruit plantation in China and is a leading worldwide producer of concentrated kiwifruit juice.
Forward-Looking Statements
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its products in new markets and to offer products at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems, political and economic factors in the People's Republic of China, compliance requirement of laws and regulations of the PRC, the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
