Skip to main content
← All exclusions

FARMMI, INC.

FAMI

Consumer Staples

1

exclusion reason

1 theme

Animal Welfare (1)
FAMI Consumer Staples Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Exploitation
Since Jul 28, 2021

Farmmi, Inc. is a major producer of shiitake mushrooms and other agricultural products, but its operations include the commercial exploitation of animals. The company's activities fall under this broad exclusion category, which captures commercial animal exploitation not specifically covered by more defined codes like meat production or animal entertainment.

Available evidence indicates a connection to documented patterns of animal cruelty within industrial agriculture. Undercover investigations at large-scale factory farms, similar to those supplying major agricultural companies, have consistently revealed systemic abuse, including surgical procedures performed on animals without anesthesia. Furthermore, enforcement of animal welfare laws in this sector is widely reported to be minimal and ineffective, with agricultural gag laws actively working to conceal evidence of cruelty from public view.

While specific, direct evidence linking these practices to Farmmi's immediate supply chain is not provided in the gathered sources, the company operates within an agricultural system where such exploitation is endemic and legally protected. The absence of a transparent, verifiable animal welfare policy or supply chain oversight for any animal-derived products or byproducts places Farmmi within this exclusionary framework.

Research Sources 1 organization
Cruelty Free Investors
External

Wondering what we do invest in?

The Naughty List

A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.

RSS feed No spam · Unsubscribe anytime

Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.