News Rest of World China Will Come To Dominate Cultivation Market

China Will Come To Dominate Cultivation Market

-

Advertising

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

Europe’s Top Judges Praised For Their ‘Courage’ In Delivering Major Boost To CBD Industry

KANAVAPE lawyer Eveline Van Keymeulen has praised five of Europe’s most senior judges for their courage in rejecting the...

Markets: US Firm Swoops For UK Medical Cannabis Company, EMMAC, Alphagreen, Ananda et al…

AMERICAN firm Halo Labs has snapped up UK medicinal cannabis supplier Canmart in a share-based deal. Kent-based Canmart was one...

Walking In The Light With Carlos Santana And Prohibition Partners

MUSIC legend Carlos Santana rounded-off this year’s second Prohibition Partners Live discussing his new cannabis venture, his relationship with...

European Commission Under Increasing Pressure To Scrap Its Classification Of CBD As A Narcotic Drug Following Court Ruling

THE European Court of Justice has handed the continent’s hemp and CBD industry a major boost - now the...

Advertising

Huge Result For CBD Industry With Europe’s Top Court Saying It Is Not A Narcotic

THE KanaVape ruling is in and it's a massive win for the CBD industry with the ECJ saying that...

KanaVape’s Antonin Cohen Speaks To BusinessCann After Winning His Six-Year CBD Court Battle With Europe

A JOYFUL Antonin Cohen has spoken of his delight - and relief - after successfully winning a court battle...

Must read

Europe’s Top Judges Praised For Their ‘Courage’ In Delivering Major Boost To CBD Industry

KANAVAPE lawyer Eveline Van Keymeulen has praised five of...

Markets: US Firm Swoops For UK Medical Cannabis Company, EMMAC, Alphagreen, Ananda et al…

AMERICAN firm Halo Labs has snapped up UK medicinal...

Advertising

You might also likeRELATED
Recommended to you