Farmmi Continues Asian Sales Growth with Latest Win

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI), a leading agricultural products supplier in China, announced a new sales order for dried Shiitake mushrooms destined for Japan. Yefang Zhang, Chairwoman and CEO, highlighted Asia's dominance as the largest fungi market, emphasizing the company’s strong supply relationships and market position. Established in 1998, Farmmi specializes in edible mushrooms and sells products both offline and through its direct-to-consumer platform. The company continues to capitalize on growth opportunities within Asia, targeting discerning consumers.

Positive

• New sales order for dried Shiitake mushrooms to Japan indicates growing demand.
• Positioned in the world's largest fungi market, enhancing growth prospects.
• Strong supply relationships and market reputation benefit sales.

Negative

• None.

LISHUI, China, June 1, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, announced today its latest sales order for dried Shiitake mushrooms, which will export to Japan.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "Asia has historically been the world's largest fungi market for both production and consumption. Our domestic location and long-term supply relationships give us a significant advantage in pursuing these major growth opportunities. We boast an excellent track record of quality and remain one of the top brands sought after by customers in Asia, where consumers are the most discerning in the world."

About Farmmi, Inc.

Established in 1998, Farmmi Inc. (NASDAQ: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. In addition to its offline sales, Farmmi sells its products direct-to-consumer at http://www.farmmi88.com. For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customer's businesses and our end purchaser's disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/farmmi-continues-asian-sales-growth-with-latest-win-301558761.html

SOURCE Farmmi, Inc.

FAQ

What recent sales order did Farmmi (FAMI) announce?

Farmmi announced a new sales order for dried Shiitake mushrooms to be exported to Japan.

Who is the CEO of Farmmi, and what did they say about market opportunities?

Yefang Zhang, CEO of Farmmi, stated that Asia is the largest fungi market, highlighting the company's competitive advantages.

What products does Farmmi, Inc. specialize in?

Farmmi specializes in edible mushrooms like Shiitake and Mu Er, as well as other agricultural products.

When was Farmmi, Inc. established?

Farmmi was established in 1998.