Farmmi, Inc. (NASDAQ: FAMI), a prominent supplier of agricultural products based in China, has announced securing a significant order for its dried Shiitake mushrooms and dried black fungus, intended for export to Romania. This order represents a further expansion of the company’s sales reach within the European market.
The order comes as Romania showcases one of the highest economic growth rates within the European Union since 2010, as per data from the World Bank. The Romanian economy saw a healthy growth rate of 4.8 percent in 2022. Over the past two decades, Romania has displayed significant economic progress, despite recent challenges brought about by the COVID-19 pandemic and geopolitical tension following Russia’s invasion of Ukraine.
These external factors have put Romania’s economy to the test, exacerbating structural vulnerabilities such as poverty, economic opportunity disparities, gender gaps in labor force participation and employment, widening fiscal and current account deficits, and institutional constraints that hinder efficient resource use.
The acquisition of this high-volume order by Farmmi is indicative of the company’s growing reputation within the European market. Farmmi’s Chairwoman and CEO, Ms. Yefang Zhang, reflected on this development: “Mushrooms have historically been a mainstay of the Romanian diet. The mineral-dense, healthy benefits are sought after and embraced, especially during the long winters.”
Ms. Zhang’s statement highlights the popularity of mushrooms in Romanian cuisine and the regard for the health benefits they provide. She further expressed confidence in the quality of their products, pointing out that their offerings are in demand despite the availability of locally produced and wild mushrooms.
This latest order from Romania underscores the recognition of Farmmi’s high-quality offerings among discerning customers and illustrates the company’s potential for continued expansion in the European market.
Photo by Kier in Sight Archives on Unsplash
