Farmmi Announces Latest Sales Win; Continues to Benefit from Increased Worldwide Demand for Mushrooms

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May 13, 2021, 08:31 ET

LISHUI, China, May 13, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its latest sales win underscoring the continued growth in worldwide demand for mushrooms. The Company's Zhejiang Forest Food Co., Ltd. subsidiary was awarded another multi-product order for export to Israel. This latest order is for dried whole and sliced Shiitake mushrooms, and dried black fungus.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are benefiting from increased customer engagements worldwide. Investments we made in building out our supply chain, warehousing, packaging and logistics are giving Farmmi an advantaged competitive position. Our ability to source high-quality mushrooms and edible fungi from major suppliers sets us apart. For example, one of our major suppliers is located in Qingyuan County, the birth place of artificial cultivation dating back about 1,000 years. When we leverage that high level of product with our sophisticated supply chain, superior quality control system and logistics, it is a powerful combination."

Ms. Zhang continued, "We are at a major inflection point in the development of the industry. Mushrooms are now a common staple in households and restaurants. Because mushrooms are so vitamin and nutrient dense, they are becoming a power food for people seeking improved health and wellness. Farmmi is in a great position to benefit from this momentum, and we plan to capture an increased share of the sales opportunities in front of us as we grow with both existing and new customers."

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 other 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.

SOURCE Farmmi, Inc.