Farmmi Expands Sales, Continues to Drive Growth with Latest Japanese Sales Win

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced a significant multi-product export order to Japan for its premium dried mushrooms and black fungus from its subsidiary, Zhejiang Forest Food Co., Ltd. This order reflects the company's ongoing growth and a strong demand for healthy food options globally. Chairwoman and CEO Yefang Zhang highlighted Japan as a key market, emphasizing rising sales due to health trends and the nutritional benefits of mushrooms. Farmmi's investments in supply chain and packaging are expected to enhance its ability to meet large-scale orders, driving further business development.

Positive

• Secured a multi-product export order to Japan, indicating strong sales demand.
• Increased global interest in health and wellness boosting mushroom consumption.
• Investments in supply chain and packaging position the company for growth.

Negative

• None.

LISHUI, China, April 22, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its subsidiary Zhejiang Forest Food Co., Ltd., won a multi-product order for export to Japan for the Company's high-quality, richly flavored dried mushrooms, and dried black fungus. This latest order is from an existing customer based in Japan as Farmmi continues to drive growth.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "Japan is one of the world's top markets for us with consumers using mushrooms in a wide variety of foods and soups. We are benefitting from higher sales demand globally related to a prioritization of health and wellness.  This includes the addition of mushrooms into healthy diets given they are a preferred source of protein, vitamins and a natural, delicious substitute for meat. At the same time, a growing number of consumers are buying mushrooms for their Vitamin D, potassium, riboflavin and selenium, which have a variety of impressive positive benefits to a healthy lifestyle. As an established supplier and processor, investments we have made in building out our supply chain give us an advantage and position us to fulfill large scale orders, while investments we have made in packaging and handling enable us to securely ship, reduce humidity and prolong shelf-life."

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 and other edible fungi.  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 export order did Farmmi (FAMI) secure?

Farmmi secured a multi-product export order to Japan for dried mushrooms and black fungus.

How is Farmmi (FAMI) performing in international markets?

Farmmi is expanding its presence internationally, particularly in Japan, driven by growing health trends.

What benefits do mushrooms provide according to Farmmi's CEO?

Mushrooms are noted for their protein, vitamins, and health benefits, driving their inclusion in healthy diets.

What is the significance of the order from Japan for Farmmi (FAMI)?

The order signifies ongoing growth and demand in a key market for Farmmi, enhancing its business development.