Lookout Canada: This Country Is Quietly Becoming a Leading Supplier of CBD
Ryan Allway
May 9th, 2019
App, Policy
Canada has become the de facto leading producer of cannabis after legalizing recreational and medical use on a federal level. With several billion-dollar cannabis producers, the country is leveraging its position to export to the United States, Europe, Australia and other key markets.
But, Canada’s cannabidiol (CBD) producers could see some competition in the near future.
China may have some of the strictest drug laws in the world, but that isn’t stopping the country from producing non-psychoactive CBD for export. After lifting a ban on hemp production in 2010, two of the country’s 34 regions are quickly becoming some of the largest producers in the world.
Several companies have already put more than 50,000 acres under cultivation, which could make them among the world’s largest hemp producers. However, extraction remains a challenge and facilities are typically located on restricted areas that are under tight government surveillance.
Some companies hope to get around these regulations by opening extraction facilities in the United States and Canada. By extracting CBD in these countries, the companies have access to low-cost hemp inputs and immediate sales opportunities in their target markets with few restrictions in place.
Many Chinese companies entering the hemp and CBD space have already seen their stocks soar on domestic exchanges.
Investors may want to note these dynamics within the CBD market and potentially look for some Chinese companies to dual-list on U.S. or Canadian exchanges in the future.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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