Farmmi is a China-based supplier of dried edible fungi — primarily dried Shiitake mushrooms and Mu Er (black ear fungus) — along with bulk agricultural commodity trading (corn, cotton, tapioca, etc.). Farmmi sources raw mushrooms from family farms in Lishui, Zhejiang Province, then sorts, processes, and packages the dried fungi for sale to distributors at a markup. Customers use Farmmi's products as food ingredients in Chinese and Asian cuisine. Farmmi sells predominantly through domestic Chinese distributors, with one distributor, Yunmihui, accounting for roughly 68% of total sales in FY2025 — a notable concentration risk. For export markets, Farmmi sells through Chinese trading companies that supply international supermarkets and food companies under OEM (private label) arrangements; international sales represent only about 4% of revenue. Farmmi operates a second business line — warehousing and logistics services in the U.S. — launched in mid-2024 under the SuppChains brand, leasing roughly 550,000 sq. ft. of warehouse space in California and New Jersey to offer storage, in-warehouse handling, and final-mile delivery. This segment contributed about 26% of FY2025 revenue and is still in early development. The core edible fungi business is driven by raw material costs, product mix (premium varieties fetch higher prices), and volume. Farmmi also trades bulk agricultural commodities, which appear to be lower-margin, pass-through transactions.