LISHUI, China, June 25, 2021 /PRNewswire/ -- Farmmi, Inc.
("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products
supplier in China, today announced
its subsidiary Zhejiang Forest Food Co., Ltd., won a new product
order from a long-term customer for its popular dried black
fungus. The customer will export Farmmi's products to
Ms. Yefang Zhang, Farmmi's
Chairwoman and CEO, commented, "Our level of customer engagements
continues to expand as we add further value with our leading
packaging and logistics to ensure product quality, flavor and
minimize costly waste. We are focused on accelerating
Farmmi's revenue growth and overall expansion as we leverage our
large scale to serve higher demand levels worldwide. We
expect our accelerated growth will continue, led by catalysts from
health and wellness, professional and aspiring cooks, and an
expansion of the overall consumption of mushrooms."
Black fungus mushrooms have also been used in traditional
Chinese medicine for centuries to help prevent heart disease, with
other benefits including liver protection, lowering cholesterol,
boosting gut health and reducing inflammation. Also known as
Cloud Ear or Tree Ear fungus, the protein rich mushrooms are high
in fiber, mineral-dense with manganese, selenium, iron and
more. Black fungus is also an excellent source of riboflavin
and niacin and is high in antioxidants.
According to Research and Markets, the worldwide mushroom market
is expected to reach a value of US$86.6
billion by 2025, registering a CAGR of 8.3% during
2020-2025. In addition to the health benefits, various
advancements in mushroom packaging technologies are acting as
another major growth-inducing factor. Manufacturers are
developing humidity-regulating packaging materials that prevent
water condensation on mushrooms, thus prolonging their shelf-life.
Other factors, including the increasing consumption of organic food
products, rapid urbanization and rising consumer expenditure
capacities, are projected to drive the market further.
About Farmmi, Inc.
Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is an
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/.
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 and the size of the worldwide mushroom
market. 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.