Farmmi Inc. (NASDAQ: FAMI) stock jumped 18.47% after announcing its latest sales win with strong global demand accelerating its growth. Zhejaing Forest Food Ltd., the company’s subsidiary, won another multi-product follow-up order for export to Israel. The latest sales will be for dried black fungus and sliced and whole shiitake mushrooms.
Farmmi benefiting from growing global demand for mushrooms
The company’s CEO and Chairwoman, Ms. Yefang Zhang, said that the company is benefiting from growing customer engagements globally. She added that with solid and long-term supplier ties and recognition among clients as a trusted, high-quality farm product supplier worldwide, the company has a competitive advantage in the global market. Zhang said that Farmmi continues to leverage its strong competitive position to drive growth and strive to gain market share.
Further, Zhang said that the company invested in building its supply chain, packaging, warehousing, and logistics, giving it an advantage. Farmmi’s ability to source premium mushrooms and edible fungi from leading supplies sets the company apart. For instance, Farmmi’s main suppliers are located in Qingyuan County, which is the origin of artificial cultivation going back almost 1000 years. Zhang added that when the company leverages its high-level product with a comprehensive supply chain, logistics, and superior quality control system.
Mushrooms popular because they are vitamin and nutrient-rich
According to Zhang, we are currently at a critical juncture in the industry’s evolution. Mushrooms have become a household and dining staple for those looking to improve their health and wellness since they are vitamin and nutrient-rich. Farmmi is in a strong position to take advantage of this momentum, and the company expects to raise its share of the sales opportunities as it expands its customer base to include both existing and new clients.