Farmmi boosts growth with latest multi-product sales win

Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its subsidiary Zhejiang Forest Food Co., Ltd., won another multi-product order for export to Japan for the Company's high-quality, richly flavored dried mushrooms, and dried black fungus.  This latest win is a repeat order from an existing customer based in Japan as Farmmi continues to boost its growth and benefit from strong global demand for mushrooms.

The New York Times, recently reported, "Mushrooms are showing up in all sorts of wellness products, pushing them into the mainstream and making mushrooms a major force in the flourishing, multi-billion dollar wellness market." (source: "The Mushroom Boom", The New York Times, April 25, 2021)

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "As a major company in the mushroom industry, we have been big proponents of the culinary delights, and the many potential wellness benefits, such a vitamin and nutritious rich food can bring to a healthy lifestyle.  We are pleased to see mushrooms now taking an even more prominent role in restaurants, households and wellness centers, as the prioritization of healthier lifestyles drives increased sales and demand.  At Farmmi, we are encouraged with our significant progress but even more excited about the Company's future.  We are moving forward with greater confidence having recently strengthened our balance sheet through an underwritten public offering.  This gives us the improved financial strength needed to now move into an accelerated growth phase, with the support of an even more robust integrated supply chain and sales network."