Farmmi Receives Follow-on Customer Order for Export to Canada
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier based in China, announced a follow-on customer order from a trading company for dried mushrooms and black fungus to be exported to Canada. This order is significant as it highlights the demand for healthier food options and farm-to-table practices. CEO Yefang Zhang emphasized the company's strategy to boost revenue and profit through investments in supply chain and food safety enhancements. The order reflects Farmmi's commitment to customer relationships and market expansion amidst growing global interest in nutritious foods.
- Received follow-on order for dried mushrooms and black fungus, indicating strong demand.
- Order from a customer supplying major global hotel and supermarket chains boosts credibility.
- Strategic investments in supply chain and food safety position the company for revenue growth.
- Possible impact of COVID-19 on business operations remains a concern.
LISHUI, Oct. 13, 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 a follow-on customer order for its popular dried whole and sliced mushrooms, and dried black fungus. The customer, a trading company supplying to major global hotel and supermarket chains, including the STANFORD hotel chain and the H-MART supermarket chain, will export our products to Canada.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We appreciate the confidence of our valued customer. This higher visibility order underscores our success at building long-term customer relationships and our reliability in providing superior products. Demand continues to increase worldwide in line with the trend of growing adoption of healthier foods and lifestyles due to the perceived benefits. By strategically investing in our supply chain, processing, warehousing, and fulfillment – including enhancements earlier in the year to even more strictly ensure the health and safety of our workers and food – we are now in a position to more aggressively drive revenue growth and profit expansion."
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 trading platform for Chinese geographical indication agricultural products and is a large platform 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.
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