Farmmi Builds Sales Momentum with Latest International Win
LISHUI, China, April 8, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced it continues to build sales momentum, with its subsidiary, Zhejiang Forest Food Co., Ltd., awarded a multi-product order for export to Israel. This latest order is for dried whole and sliced Shiitake mushrooms, and black fungus.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "This is the latest indication of the sales momentum we are building in the domestic Asia markets and in key international markets, as we successfully support and grow with customers. Our strategy of closely partnering with customers and distributors in growth markets worldwide continues to be a powerful business model, allowing us to leverage our partners' sales, logistics and distribution networks, while focusing our investments on expanding our supply relationships, product lines and brand awareness."
Ms. Zhang continued, "Over the last few years we have firmly established Farmmi as a global brand, known for its consistently high product quality, superior taste, and impressive diversity in the types of mushrooms we are able to reliably provide in high volumes. Our focus is now on scaling our business and accelerating Farmmi's growth given the compelling opportunities in front of us, as more and more consumers incorporate mushrooms into healthy diets and overall wellness programs."
The global mushroom market is expected to reach $69.3 billion by the end of 2024, up from $34.1 billion in 2015, based on projections from the firm Transparency Market Research. (source: The Wall Street Journal, March 27-28, 2021).
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/.
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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