China Eliminates 50 Year Old Agricultural Tax, Bodisen
Biotech Sees Increased Sales in 2006 and Beyond
Tuesday January 24, 8:00 am ET
NEW YORK--(BUSINESS WIRE)--Jan. 24, 2006--Bodisen Biotech, Inc.,
(AMEX:BBC, website: /), the
first China based environmentally friendly bio fertilizer company
listed on a US stock exchange, today announced that the Chinese
government recently eliminated an important agricultural tax that
had been levied on Chinese farmers since 1958. Chinese farmers have
traditionally been paying on average a 15.5% agricultural tax on
Ms. Karen Qiong Wang, Chairman & CEO of Bodisen commented:
"Elimination of the agricultural tax will significantly increase
farmers' income across China. As China's rapidly growing economy
continues to rely heavily on imported grains, farmers now have more
incentives to purchase high quality, higher crop yield
environmentally friendly fertilizers from Bodisen. Our sales
channels have already seen positive responses and increased orders
from our end user farmers. Bodisen is on track to achieve record
earnings growth in 2006 and maintains its position as one of the
fastest growing companies in China."
Utilizing proprietary technologies, Bodisen sells over 60
packaged products, broken down into 3 product categories: Organic
Compound Fertilizer; Organic Liquid Fertilizer; and Pesticides &
Insecticides. Bodisen's organic fertilizers can be absorbed by
plants within 48 hours while enriching soil conditions without the
damaging effects associated with chemical fertilizers.
About Bodisen Biotech, Inc.
A Delaware company, Bodisen is headquartered in Shaanxi, China's
agricultural hub. The Bodisen brand is a highly recognized
fertilizer brand in China. Its environmentally friendly "green"
products support the mandate of the Chinese government to increase
crop yields for the purpose of decreasing China's dependency on food
imports. Among China's population of 1.3 billion, approximately 900
million are farmers whose incomes depend on their crop yields.
With over 60 products and approximately 600 (and growing)
nationwide distribution centers, Bodisen has experienced rapid
growth. Bodisen's products are based on proprietary agricultural
technology jointly developed by company scientists and university
laboratories. These products address grains, vegetables, and fruit
crops and have been proven to increase crop yields by 10% to 35%
while being 100% environmentally friendly.
BODISEN HAS WALL STREET RESEARCH COVERAGE
Wall Street firm New York Global Securities, Inc. ("NYGS", http://www.newyorkglobal.com/)
provides research coverage for Bodisen. NYGS' parent company New
York Global Group (http://www.nyggroup.com/) has a
significant China presence.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are based
on the current expectations or beliefs of Bodisen Biotech, Inc.
management and are subject to a number of factors and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements.
Source: Bodisen Biotech, Inc.