S&W Seed Company announced the extension of its 800 acre farmland lease in Kern County, located in California's San Joaquin Valley. The lease agreement was originally signed in July 2011, and the amendment extends the length of the lease from 2014 to 2024.
Mark Grewal , president and chief executive officer of S&W Seed, commented, "I am very pleased that we came to a long-term agreement on this farmland lease. The extension ensures a significant production base for our alfalfa seed varieties for years to come. The ability to consistently farm the same land over time, with normal crop rotation, should have the effect of maximizing yields and enhancing gross margins."
The property is located in the southern Central Valley of California, approximately 65 miles from S&W's certified seed cleaning and processing facility in Five Points. The acreage has a robust water supply, providing for reliable and consistent irrigation of crops. Over the last year and a half, S&W Seed's farming team has utilized a portion of the land for its proprietary alfalfa seed production.