Farmmi Receives Seventh Follow-on Customer Order for Export to Israel
Farmmi, Inc. (NASDAQ: FAMI) announced its subsidiary, Zhejiang Forest Food Co., Ltd., received a seventh follow-on order for dried Shiitake mushrooms and other products from an Israeli customer. Chairwoman and CEO Yefang Zhang highlighted the Middle East as a growth market due to increasing consumer demand for nutritious foods. Farmmi aims to leverage its supply chain to fulfill large orders and capture growth opportunities in the region. The company specializes in agricultural products, including various mushrooms, providing a platform for locally sourced goods.
- Received seventh follow-on order from existing customer.
- Expansion into the Israeli market, indicating strong demand for mushrooms.
- Potential for growth in the Middle East due to limited local mushroom cultivation.
- None.
LISHUI, China, Sept. 3, 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 its seventh follow-on order from the same existing customer. The latest order is for dried Shiitake mushrooms, dried and sliced Shiitake mushrooms and dried black Mu Er. The customer, an Israeli import and marketing company, will export the mushrooms to Israel.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "Israel – and the broader Middle East – is a very attractive growth opportunity for us. The market for mushrooms there is on pace for continued expansion as consumers focus on nutrition-dense food sources. While the demand and benefits are clear and compelling, the local agriculture environment is not conducive to the cultivation of mushrooms given water constraints and soil quality. Farmmi has been able to step in and work with customers to provide the high-quality, flavor-rich mushrooms and sough-after agricultural products needed to meet increased customer demand. Our proven ability to reliably leverage our supply chain to fulfill high-quantity orders is helping us to capture an increasing number of these growth opportunities, as we continue to execute on our long-term business and build value for shareholders."
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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