Filtered by category "Legislation"

Registered Uruguayan Cannabis Consumers

In 2014, Uruguay became the world’s first country to legalize adult-use cannabis: Citizens may access it through pharmacies, membership in clubs, or self-cultivation. The most common way that Uruguayans access legal cannabis is through pharmacies, and the number of such customers has been rising — now 77% of registrants patronize pharmacies, up from 68% in […]
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CV Sciences Skewing Successfully Thanks to CBD Sales

By William Sumner, Hemp Business Journal Contributor As businesses start sharing their year-end financial results, one hemp-CBD company hopes to show a breakout year by riding the wave of momentum from 2018. Earlier this month, CV Sciences (OTCMKTS: CVSI) released their financial results for the fiscal year ending on Dec. 31, 2018, posting record growth […]
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US Cannabis and Alcohol Sales

In 2018, U.S. retail alcohol sales totaled $254 billion, nearly 7x overall cannabis sales (both legal and illicit) of $37.2 billion. New Frontier Data estimates that overall domestic cannabis sales grew 6.7% in 2018, while alcohol sales meanwhile grew at 5% year over year (source: bw166). In its upcoming white paper, The Nexus of Alcohol […]
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This St. Patrick’s Day, Drink Options Offer Slainte! With THC and CBD

By William Sumner, Hemp Business Journal Contributor With a Saint Patrick’s Day weekend in sight, the occasion seemed right for the Hemp Business Journal to get into the holiday spirit with an update about the current state of hemp- and cannabis-infused beverages. As detailed in a survey last October by New Frontier Data (parent company […]
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Global Industrial Hemp Applications

New Frontier Data predicts sales of hemp-based industrial products to accelerate with strong growth across global markets for 5-10 years. With 2018 sales of $425 million, Europe remains the global leader in industrial hemp. Out front with segments like hemp-based automotive parts (biocomposites) and animal bedding, Europe will retain its lead in global industrial sales […]
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Facing FDA Scrutiny, Producers Get Cagey Selling CBD

By William Sumner, Hemp Business Journal Contributor As the United States bundles itself against one of the last cold snaps of a lingering winter season, competition in the hemp-CBD market is staying hot with word that cannabis giant Tilray, Inc. (NASDAQ: TLRY), was  purchasing Manitoba Harvest — the world’s largest hemp food manufacturer —  for […]
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Mexico’s Cannabis Market Potential

Mexico is the second-most populated country in Latin America, with more than 1.4 million cannabis consumers, including nearly 850,000 regular (past-month) users. Mexico’s total potential market revenues surpass $2.0 billion, supporting between 50,000-75,000 jobs. Converting farms from illicit to legal grows represents a significant challenge for the Mexican government due to the activity and [...]
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Cannabis Companies Beginning to Ante Up for Bets on Hemp

By William Sumner, Hemp Business Journal Contributor Last week, the hemp and cannabis markets were abuzz with news that cannabis giant Tilray Inc. (NASDAQ: TLRY) was acquiring Manitoba Harvest for $419 million CAD ($319 million USD). Manitoba is the world’s largest hemp-foods manufacturer, with products in more than 16,000 retail stores throughout North America. For […]
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Global Hemp Food Sales

Hemp-based foods are generating significant new interest after the passage of the 2018 U.S. Farm Bill. Between 2018-2020, global hemp-infused foods are forecast to grow 46%, from $353 million to $479 million. The U.S. will lead, reaching $151 million by 2020, followed by China ($101 million) and Europe ($79 million). Hemp foods rely on three […]
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Confusion About CBD Legalities Stymies Manufacturers, Consumers Alike

By William Sumner, Hemp Business Journal Contributor When President Trump signed the 2018 Farm Bill into law, many legal ambiguities which plagued the hemp industry were eliminated. Hemp is no longer considered a controlled substance, and states are free to establish industrial hemp programs for commercial purposes. Yet, issues surrounding cannabidiol (CBD) have only deepened […]
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