Farmmi (FAMI) Gets an Upgrade
Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced it received a new order from a long-term customer for dried mushrooms, which will be exported to Dubai.
Fami strategic objective is to build a global trading platform for agricultural products with Chinese geographical indications, with the help of modern artificial intelligence technology and in virtue of the operation mode of “Internet + Internet of Things + Factories + bases”, adding value to China's high-quality agricultural products market.
As this takes shape we believe the value of the company will take off.
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The shiitake mushroom market is forecasted to witness a CAGR of 9.11% during the forecast period (2020 - 2025).
Shiitake, which falls in the category of functional mushrooms, are being used in a wide variety of healthcare or pharmaceutical products thus, increasing there applicability beyond food and beverage. Therefore, there application as functional ingredient in medical industry is driving the market, as they are being increasingly incorporated as health supplements.
Currently, the bacterial and viral infections are rising around the globe, such as COVID19, therefore the shiitake mushroom application in the pharmaceutical sector is expected to increase further, as shiitake mushrooms are being used as medicine, for boosting the immune system, lowering blood cholesterol levels, hardening of the arteries, diabetes, eczema, colds and flu, treating prostate or breast cancer, and also act as as an anti-aging agent.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "Farmmi's diverse customer base is driving our continued expansion.
We are benefiting from our leading position in the large domestic China market, growth in Japan and across Asia, North America, Europe, while developing opportunities in other markets worldwide.
We made great strides in our business in 2020, which set in motion sales and marketing initiatives we are now benefiting from.
We are excited about the increased adoption of healthy, nutrition-dense diets and more active lifestyles in our target markets.
Our company's excellent track record, brand awareness and broad product line is helping Farmmi become the fuel of choice for conscientious, health aware 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 and other edible fungi. For further information about the Company, please visit: http://ir.farmmi.com.cn/.
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