Farmmi Continues to Benefit from Uptick in Global Food Demand; Announces Latest Export to Israel
Farmmi, Inc. (NASDAQ: FAMI) announced a new export order of its dried Shiitake mushrooms to Israel, highlighting the rising demand for food products globally as in-person activities resume. Yefang Zhang, the Chairwoman and CEO, remarked on the increased demand aligning with previous forecasts for a stronger performance in 2022 compared to 2021. Founded in 1998, Farmmi specializes in edible mushrooms and agricultural products, selling both offline and direct-to-consumer. The company acknowledges potential risks affecting growth, including market uncertainties and operational challenges.
- New export order for dried Shiitake mushrooms to Israel.
- Increased demand for food products as in-person events resume.
- Alignment with previous forecasts of stronger performance in 2022.
- Risks related to lingering effects of the Covid-19 pandemic.
- Potential challenges in fulfilling customer orders.
- Fluctuations in earnings and foreign exchange rates.
LISHUI, China, Aug. 9, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, announced today a new sales win for its popular, flavor rich, nutritious dried Shiitake mushrooms. The latest order will export to Israel.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented "We continue to see an uptick in demand as people return to in-person events, social engagements and other group interactions. This has created a significant increased demand for food globally, including our quality mushrooms. This trend is in line with our previous estimates that Farmmi would deliver a stronger 2022 than 2021."
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. For further information about the Company, please visit website.
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.
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SOURCE Farmmi, Inc.
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