Farmmi Continues to Benefit from Growth in Plant-Based Foods

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forest Food Co., Ltd., has secured multiple repeat orders for its dried Shiitake mushrooms and other products from customers in the U.S. and Israel. This marks the sixth order this year from one importer and the twelfth from another, showcasing robust demand driven by the growing plant-based food market. The company highlights the health benefits of mushrooms, noting their popularity among consumers seeking nutritious and environmentally friendly food options.

Positive

• Secured multiple repeat orders for dried Shiitake mushrooms in the U.S. and Israel, indicating strong market demand.
• The sixth order this year from an Israel-based company demonstrates ongoing customer loyalty.
• The twelfth order from a customer exporting from Ningbo to the U.S. reflects robust export activity.
• Positioning within the growing plant-based food segment supports potential revenue growth.

Negative

• None.

LISHUI, China, June 30, 2020 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its subsidiary Zhejiang Forest Food Co., Ltd., has received multiple additional repeat orders for distribution of its dried Shiitake mushrooms, dried whole mushrooms and mushroom slices, and dried black fungus in the U.S. and Israel, as the Company continues to benefit from growth in plant-based food segment.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are excited to announce our latest repeat orders, which include the sixth order this year from one customer – an Israel-based import and marketing company – and the twelfth from another, a customer exporting from Ningbo, China to the U.S. We continue to benefit from growth in the broader plant-based food segment, as more consumers seek healthier food products without sacrificing taste. The overall interest and segment growth is helping drive demand for our delicious, fresh and convenient Shiitake mushrooms and other edible fungi. We expect this to be a multi-year, global trend as consumers support environmentally friendly companies and products, like Farmmi."

Eating mushrooms, which are fat-free, low-sodium and cholesterol-free, promotes a healthy, nutritional diet. Mushrooms are rich with fiber, vitamins and minerals, with the flexibility to be consumed dried as a snack or used in soups, stews, appetizers and countless other delicious, healthy dishes. 

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and many other sought-after agricultural products. The Company's Farmmi Liangpin Market serves as a global trading platform for Chinese geographical indication agricultural products and is one of the largest platforms for consumers to access locally sourced agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including the potential impact of COVID-19 on our business within and outside of China.  These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

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SOURCE Farmmi, Inc.

FAQ

What recent orders has Farmmi received?

Farmmi has received multiple repeat orders for its dried Shiitake mushrooms and other products from customers in the U.S. and Israel.

How many orders has Farmmi received from one customer in Israel?

Farmmi has received the sixth order this year from a customer based in Israel.

What is the significance of Farmmi's repeat orders?

These repeat orders indicate strong demand and customer loyalty in the growing plant-based food market.

What products is Farmmi distributing?

Farmmi is distributing dried Shiitake mushrooms, dried whole mushrooms, mushroom slices, and dried black fungus.

How does Farmmi describe the health benefits of mushrooms?

Farmmi emphasizes that mushrooms are fat-free, low-sodium, cholesterol-free, and rich in fiber, vitamins, and minerals, making them a healthy dietary choice.