The CBD supply chain is long, bumpy, and comprised of many different stops which are subject to confusing regulatory changes that can make it seem like a maze. From farming and testing to processing and extracting to branding and distributing, getting involved in any phase of this market can feel overwhelming. And let’s not forget it’s all in its infancy, which will always make for an additional challenge.
Considering all that, hemp trading makes all the sense in the world. And luckily, it’s a thing indeed, be it a novel one.
PanXchange is a Denver-based company that first launched a hemp exchange and electronic trading electronic system that served as a foundation, on which they have now built a full-fledged hemp trading platform, meant to serve as a centralized marketplace with a “focus on hemp that is grown for the main purpose of extraction into the therapeutic market.”
The cornerstones of PanXchange’s trading platform are: price transparency, with the goal of eliminating “unscrupulous brokers” and the practice of the buyers and suppliers changing their prices at will, within a single day; network expansion through “aggregating the reputable business partners under one roof,” thus giving “security to supply chain managers wanting to increase their supply and sales channels;” ancillary services like direct payment methods and escrow services, making the platform a guide that sees deals through from initial bids to product delivery.
KushCo came into the world of hemp trading with a bang, or rather a $25-million-in-revenue projected bang that unfortunately didn’t come to fruition. Even so, the company’s hemp trading business still has all the makings of doing big things and helping the hemp industry in the process. It seems like a grander version of PanXchange’s platform, as is touted as a one-stop marketplace, “servicing the entire hemp-derived CBD market from seed to sale,” end to end – from farming, to testing, processing, branding, all the way to retail.
KushCo manages to live up to delivering on this promise through a partnership with “national leader in agricultural hemp production that sources legally compliant hemp biomass, CBD distillate, CBD isolate, and hemp flower from its 1,200 acres of hemp cultivation and more than 60,000 acres available through its network of farmers.”
Trading hemp may still be in its infancy, but it already enjoys most, if not all, of the components of other widespread commodity trades, be it on a smaller scale in terms of platform options.
Image Credits: Pikist