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LISHUI, China, Feb. 9, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced the Company's subsidiary Zhejiang Farmmi Biotechnology Co., Ltd., won another follow-on product order from one of the Company's long-term customers. The latest order for dried sliced Shiitake mushrooms will be exported to Israel.
The global mushroom market size was valued at US$46.1 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2028. The increasing vegan population demanding a protein-rich diet is expected to be a key factor driving the market over the forecast period. (source: Grand View Research)
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We continue to execute on our growth strategy led by the expansion of our sales at existing customers, growth in new geographic markets and further extension of our product line. We are benefitting from strong demand for mushrooms and our other high quality agricultural products, and momentum from the strong customer relationships we have built over the past several years. As the nutrient and health benefits of fungi, and their delicious taste become more broadly recognized, we are in position to capture additional growth opportunities in both our domestic and our international markets."
About Farmmi, Inc.
Farmmi Inc. (NASDAQ: FAMI) was Established in 1998, formerly known as Zhejiang Forasen Food Co., Ltd., which is an agricultural e-commerce technology enterprise. Headquartered in Lishui, Zhejiang, 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/.
Forward-Looking Statements
This press release contains forwarding-looking statement within information about Farmmi Inc.'s views on its future expectations, plans and prospects. We remind you not to rely too much on these forward-looking statements. Due to various of factors, actual results may differ materially from the anticipated results, including but not limited to its ability to raise additional funds, maintain and develop business, variability of business performance, ability to maintain and enhance its brand, development and launch of new products and services, successful integration of acquired companies, technologies and assets into its product and service portfolio, marketing and other business development initiatives, industry competition, general government regulation, economic conditions, the impact of the novel coronavirus pneumonia, dependence on key personnel, attracting, hiring and retaining personnel with the skills and experience required to meet customer requirements, and the ability to protect their intellectual property rights. Farmmi Inc. encourages you to review other factors that may affect its future results in its registration statement and other documents submitted to the U.S. Securities and Exchange Commission. The forward-looking statements in this press release are based on current expectations, our company does not undertake the obligation to update these forward-looking statements.
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