Farmmi Hikes on New Order

Farmmi Inc (NASDAQ:FAMI) rose sharply Wednesday, on news its subsidiary recently won a new repeat product order.

The report said Zhejiang Farmmi Biotechnology won another new repeat order for its dried mushroom slices. The order is from one of the company's long-term customers for export to Southampton, England.

Said CEO Yefang Zhang, "This is another important win for us. It continues the meaningful sales growth trajectory we have been building all year as we leverage our increased investments in sales and marketing to build our global brand, and it also benefited from our consistent product availability due to our strong supply chain relationships.

"This latest win serves as an example of our successful strategy of working alongside our customers to support them across our broader product line as part of our efforts to increase revenue per customer, while also nurturing the relationships that will drive our longer term success."

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.

FAMI shares took on just more than two cents, or 9.6%, to 27 cents.