NewsRest of WorldChina Will Come To Dominate Cultivation Market

China Will Come To Dominate Cultivation Market

-

CHINA will emerge as the cannabis cultivating super power producing flower for as little a 10 cents a gram, a leading producer believes.

Oliver Zugel, Executive Chairman and co-founder of Colombian producer Foliumed, elaborated on how he sees the cultivation industry developing.

“Hemp outdoor cultivation in the UK 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.”

Colombia is one of the lowest-cost producers in the world with cannabis flowers being produced for around 50 cents per gram compared to $1.50 in Canada.

Mr Zugel believes a global glut of CBD will drive prices down and described the situation where CBD extract can be produced for $1.50 a gram and sold for $400 – in countries such as Germany – as unsustainable.

“There is no other business like this at the moment, it makes no sense.”

He then turned his fire on those in the industry making unsubstantiated medical claims

“Now ,CBD can cure hair loss, impotency then there are the beauty claims;  the medical science needs to keep up, but these things are are not scientifically proven,  and do no favours to the business.

Mr Zugel was speaking at the Cannabis Investor Forum in the City of London, last year.



Peter
Peter McCusker is an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Thought Leaders Acquisition Of mellow Set To Accelerate Growth Across UK, Europe, And Asia Footprint

THE CBD world is set with a massive shake-up this week as Thought Leaders, the US cannabis & CBD investment company,...

Medical Cannabis Cost-Benefit Analysis Set To Be Launched By UK CIC At A Cost of £30,000

THE initial priorities of the UK Cannabis Industry Council have been identified following a special general meeting attended by...

CIC Research Group Looking To Overcome The ‘Scandalous’ Impasse On UK Medical Cannabis Prescribing

Chartered Psychologist and Head of Research at Drug Science, Dr Anne Katrin Schlag, heads up the newly formed Cannabis...

European Cannabis Market Leader Bloomwell Group Secures $10m Investment

The Bloomwell Group has successfully closed a seed funding round of over $10 million dollars—the highest publicly known seed investment...

German Hemp Farm Numbers Up 900% In Seven Years – As industry Calls For Post-Election Reform

THE number of German farms growing industrial hemp has hit 863 – the highest figure since the federal republic...

US Company Set To Launch UK Medical Cannabis Study In Partnership With Manchester University

A GROUND-BREAKING human pilot study centred on the University of Manchester could provide answers to using cannabis as a...

Must read

Medical Cannabis Cost-Benefit Analysis Set To Be Launched By UK CIC At A Cost of £30,000

THE initial priorities of the UK Cannabis Industry Council...

CIC Research Group Looking To Overcome The ‘Scandalous’ Impasse On UK Medical Cannabis Prescribing

Chartered Psychologist and Head of Research at Drug Science,...

You might also likeRELATED
Recommended to you