Farmmi Drives Increased Sales in North America

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced a new sales order for dried Shiitake mushrooms through its subsidiary Zhejiang Farmmi Biotechnology Co., Ltd. The client is a Canadian trading company focused on Asian food products. This order reflects Farmmi's ongoing international expansion strategy and growing demand for nutritious options. Chairwoman Yefang Zhang highlighted the company's competitive position, reinforced by strong supply chain relationships and efficient logistics, ensuring product freshness and quality. This marks a significant milestone in Farmmi's strategy to penetrate North American markets.

Positive

• Secured new sales order for dried Shiitake mushrooms in North America.
• Reflects successful international expansion strategy.
• Growing consumer demand for healthy options boosts business outlook.
• Strong supply chain relationships enhance product quality and freshness.

Negative

• None.

LISHUI, China, Aug. 17, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced the continuing success of its international expansion strategy with the latest new customer sales order through its subsidiary Zhejiang Farmmi Biotechnology Co., Ltd.. The latest order is for dried Shiitake mushrooms, and dried and sliced Shiitake mushrooms. The customer, a Canadian international trading company, specializes in importing and distributing Asian food products in the greater Vancouver area, Calgary and Winnipeg.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are pleased with our growth in international markets. Demand is being driven by consumers' desire for more healthy and nutritional options, which mushrooms fulfill as one of nature's true superfoods. Both nutritious and delicious, mushrooms provide important vitamins and minerals, essential for a healthy body and active lifestyle. We have a very strong competitive position anchored by our long-term supply chain relationships to guarantee high-quality supply and proven end-to-end logistics to ensure freshness for our customers."

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is an agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi and other 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 and the size of the worldwide mushroom market. 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 sales order did Farmmi, Inc. secure?

Farmmi, Inc. secured a new sales order for dried Shiitake mushrooms through its subsidiary in Canada.

How is Farmmi's international expansion strategy performing?

Farmmi's international expansion is succeeding, as demonstrated by recent sales orders in North America.

What products are included in the latest order from Farmmi?

The latest order includes dried Shiitake mushrooms and dried and sliced Shiitake mushrooms.

Which markets are driving demand for Farmmi's products?

The demand for Farmmi's mushrooms is driven by the North American market, specifically Canada.

What factors contribute to Farmmi's competitive position?

Farmmi's competitive position is supported by strong supply chain relationships and efficient logistics.