As the industry enters its third summer of cultivation post 2018 Farm Bill, market conditions are beginning to stabilize. Price fluctuations in CBD products seem to have decreased significantly when compared to the volatility we witnessed this time last year. There was also a huge uptick in crude oil derivative pricing, which Hemp Benchmarks has attributed to a flood of USDA organic hemp extract hitting the market. We believe that the cannabis industry will follow suit and that USDA organic certified crops will fetch higher market prices, but in order for farms to obtain this certification, federal legalization is required. Even without access to this certification, the industry’s steps toward product differentiation is a signal of the explosive growth that’s yet to come. The summer of 2021 will be jam packed with riveting headlines, and we look forward to being there with you every step of the way.
The recent legalizations in New Mexico, New York, and Virginia are prime examples of an industry hellbent on moving forward. As states like Connecticut, Delaware, Minnesota, and Rhode Island flirt with the idea of fully embracing cannabis, the strategic opportunities continue to multiply. To get ahead of the competition, you need experience, willingness to go out on a limb, and an understanding of the unique challenges that the cannabinoid space brings. That’s where we come in – reading our report will put you three steps ahead of your peers and put the wind beneath your wings so that you can be ready for whatever comes your way.