US Farms, Inc., (OTCBB: USFI) is pleased to announce the company has entered into a growing agreement with Phrixus Holdings, Inc. to grow Asparagus in Southern California. The agreement is subject to financing to the cover costs of growing which includes approximately 210 acres of Asparagus. US Farms has leased the real property necessary to conduct this farming operation.
Asparagus has been grown for many years. The Ancient Greeks and Romans relished this crop. It originated in Asia Minor and is a member of the lily family. California, Michigan, and Washington are the major producing Asparagus states, but there is some commercial production in many of the northern and western states.
Darin Pines, Director of US Farms, stated, "This growing agreement makes US Farms a major player in the Asparagus market during the first quarter of 2007. Favorable climate in the Imperial Valley enables US Farms to be one of the only capable growers of Asparagus in the US for this select time frame. US Farms will be one of the largest; if not the largest grower of domestic grown Asparagus during this time which we feel is a significant business opportunity. Asparagus generates healthy revenues annually and is enjoyed by thousands of Americans daily."
Seventy to Eighty percent of the United States domestic supply of fresh asparagus is grown in California. Statewide the harvest season is from January 15 to June 30. Early season asparagus is harvested in Imperial Co. and the harvest moves north as the weather warms in the spring. Asparagus fields are harvested by hand every 1 to 3 days depending on how quickly marketable sized spears are emerging, a function of soil and air temperature.
Leading California asparagus production counties are San Joaquin, Imperial, Monterey, and Santa Barbara. Asparagus is over a 125 million dollar industry in California.
US Farms President Yan Skwara stated, "US Farms management is moving aggressively to expand its crop growing business. This growing agreement gives US Farms a footprint in the Asparagus market immediately to add to our existing Aloe Vera crop. US Farms anticipates generating revenues from its Asparagus shortly after harvest which is targeted for January 2007 thru March 2007. Based on our ability to fund this business operation, we are projecting in the range of 1.5 million in revenues from this harvest. We are utilizing a conservative 15-year average for the price of Asparagus."
About US Farms, Inc.
US Farms has recently engaged in a number of diverse agriculture business activities. US Farms has commenced the production and distribution horticultural products through a number of subsidiaries. The company's horticultural products are sold through supermarkets, home centers, retail merchandisers, garden centers, re-wholesalers, and landscapers throughout the United States and Canada. Through internal growth and strategic acquisitions the company is expanding its market share in the produce space. Currently the company is packing, shipping and marketing Aloe Vera as a produce product through one of its subsidiaries.
For more information, please visit http://www.usfarmsinc.com. US Farms, Inc. is publicly traded on the over-the-counter market under the ticker symbol USFI.
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Statements contained in this release that are not strictly historical are "forward-looking" statements. The forward-looking statements are made based on information available as of the date hereof, and the company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties and the company's actual results may differ from these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the company's products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
US Farms, Inc.