The stock of Farmmi Inc (NASDAQ: FAMI) dropped to $0.48. The company has over the years focused on the supply of wide-ranging agricultural products across China. It has spoken about its plan to expand its international business presence further.
Focusing on exports
It has also spoken about its subsidiary known as Zhejiang Forest Food Co., Ltd, outlining that it has won a business deal to export multiple products to Israel. The company’s latest deal will see the subsidiary generate revenue from the sale of sliced and dried Shiitake mushrooms. It will also be selling the dried black fungus.
Farmmi’s Chairwoman and CEO Ms. Yefang Zhang opines, “We are on the path for sustained growth as we deliver a steady cadence of new sales wins worldwide. We are benefitting from the rapid growth of the plant-based food market by leveraging our scale, market leadership, and best-in-class field-to-table logistics.”
Farmmi stares at a massive business opportunity
Analysts have been observing Farmmi’s business moves, and they exude confidence that the company will succeed in taking advantage of what they describe as a “highly fragmented market and supplier friction”. They believe that the company the company’s network effect is contributing immensely to its wins. The company looks forward to great times ahead where it succeeds at boosting the shareholder value by a significant margin.
Farmmi, Inc undertakes most of its business management deals in its headquarters found in Lishui, Zhejiang. It has made a great name because of its business activities that involve the processing and the supply of the Mu Er mushrooms, Shiitake mushrooms, edible fungi, and some other wide-ranging products. The multi-product order export to Israel happens to be one of its focused moves to take over the international markets with its diverse agricultural products.