Follow-on High-Volume Farmmi Order to Ship to the Middle East
Farmmi, Inc. (NASDAQ: FAMI) announced a substantial follow-on order for its dried Shiitake mushrooms, destined for the Middle East. This order is from a long-term customer, reflecting increasing demand as clients build inventories ahead of year-end. Yefang Zhang, Farmmi's Chairwoman and CEO, noted that the company is executing its growth strategy effectively in both established and evolving markets, suggesting potential for further growth amidst heightened focus on food security.
- Receipt of a follow-on high-volume order for dried Shiitake mushrooms, indicating strong demand.
- Continued execution of growth strategy in established and developing markets.
- Anticipated increase in growth due to rising inventory demands as year-end approaches.
- None.
LISHUI, China, Oct. 26, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, today announced a follow-on high-volume order, which will ship to the Middle East. The latest order comes from one of Farmmi's long-term customers and is for the Company's popular dried Shiitake mushrooms.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented: "We continue to execute on our growth strategy with new and existing customers in both established and developing markets. We are benefiting from an uptick in demand as customers build on their inventories going into year end. We believe the pace of growth can further increase with heightened focus on food security and normal seasonal inventory build-up."
About Farmmi, Inc.
Established in 1998, Farmmi Inc. (NASDAQ: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. In addition to its offline sales, Farmmi sells its products direct-to-consumer. For further information about the Company, please visit website.
Forward-Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customer's businesses and our end purchaser's disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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SOURCE Farmmi, Inc.
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