Farmmi Receives New Customer Order for Export to the U.S.

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced a new customer order from Zhejiang Forest Food Co., Ltd. for dried whole mushrooms and slices, destined for export to the U.S. The customer is an investment trading company serving major hotel and supermarket chains, including Stanford hotels and H-MART supermarkets. CEO Yefang Zhang emphasized the order as a testament to Farmmi's product quality and commitment to food safety, as well as growing demand for mushrooms in the plant-based food market.

Positive

• New customer order for dried mushrooms indicates strong demand.
• Partnership with reputable global hotel and supermarket chains enhances credibility.
• Growing interest in plant-based foods supports long-term business prospects.

Negative

• None.

LISHUI, China, July 16, 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 new customer order for its dried whole mushrooms and dried mushroom slices. The customer, an investment trading company supplying major global hotel and supermarket chains, including the STANFORD hotel chain and the H-MART supermarket chain, will export the mushrooms to the U.S.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "This latest order is a further validation of Farmmi's proven product quality, and our commitment to food safety and excellence across our supply chain, including the HACCP management system. We have engaged with this customer at several of the major international and domestic exhibitions we participated in as part of our broader customer outreach efforts. We continue to gain customer momentum in our business led by increased interest in the plant-based food segment. In addition to the many potential health benefits, demand for mushrooms has been growing because they are very stable and can maintain their nutritional properties even when transported over long distances making them ideal for export purposes." 

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 order did Farmmi, Inc. receive?

Farmmi received a new customer order for dried whole mushrooms and dried mushroom slices for export to the U.S.

Which companies are involved in Farmmi's new order?

The order involves an investment trading company supplying Stanford hotel chain and H-MART supermarket chain.

What is the significance of the order for Farmmi, Inc.?

The order validates Farmmi's product quality and commitment to food safety, while also showing increased demand in the plant-based market.

How does Farmmi's recent order impact its business?

The new order reflects strong customer momentum and potential for growth in the plant-based food segment.