In case you missed this week’s newsletter, here’s a quick look at what happened.
In this week’s edition, we’re taking a look at what country is poised to be a global leader in cannabis cultivation… spoiler alert: it’s China. Also, why was the U.K.’s medical cannabis program such an epic failure? And will a surge of new Canadian cannabis products help boost the bearish market? All that and more in this week’s CBD Business Weekly Newsletter.
China will emerge as the cannabis cultivating super power producing flower for as little a 10 cents a gram, a leading producer believes. Speaking at the Cannabis Investor Forum in the City of London Oliver Zugel, Executive Chairman and co-founder of Colombian producer Foliumed, elaborated on how he sees the cultivation industry developing in China.
“Hemp outdoor cultivation in the U.K. is a short-lived business with just one crop a year, in Colombia we can get up to five harvests a year but the Chinese will be beating us on price within a few years. Cultivating under lights is not sustainable, the carbon footprint of such operations is horrible, something like three per cent of all California’s electricity is taken by the cannabis industry.”
Must Read Articles:
One year on from the introduction of medical cannabis in the U.K., the overwhelming consensus is that it has been a massive failure in need of a complete overhaul. As things stand there is little chance of this coming from within the U.K. medical establishment so the change will need to come from elsewhere.
It’s one year since recreational cannabis was legalized in Canada and the anniversary has been marked by introduction of a new range of cannabis products including; edibles, drinks and vapes. It will be a while before any go on sale – early December is predicted as they have to be individually approved by Health Canada. The market could be worth almost $3 billion a year, reports Health Europa.
Alexej Pikovsky, of London firm Augmentum Partners, says there is 47 times more flower in inventory, or in the ground, than there are sales. Speaking at the Cannabis Investors Forum in London he went on to say that, “We have seen some 150 licenses approved in Portugal and there is going to be massive drop in flower prices – so, for investors it’s not really the place to be.”
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