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Sunday, June 4, 2023

“We consider the prosperity of CBD to be a blessing and a curse.”

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Interview – Jennifer Adams is Director of Business Development at Canna Markets Group, a US-based cannabis consultancy, which provides expertise in infrastructure, supply chain management, production, product development, and a diverse knowledge base of industrial hemp and environmental sciences. She has conducted significant research in regulatory processes for soil remediation, building materials, animal feed and bedding as well as environmentally driven supply chain solutions in the USA and globally. Adams has more than two decades of experience in the nonprofit and logistical sectors, including work on disaster recovery and community building programs.

HempToday: What’s the pulse in the CBD sector right now? What kind of companies do you think have weathered the jolt?

Jennifer Adams: Companies that have established themselves within the pre-existing food business within the United States have the best chance of avoiding negative effects that may come from the Food and Drug Administration in the near future. For example, companies like CV Sciences, which have set standards within their CBD product segments, no longer sell some products to non-medically licensed distributors. Although some wholesalers are frustrated in the short term, such measures show a level of precautionary survival in the event of a jolt.

Hertz: The boom and bust in CBD was partly driven by rosy expectations that were not fulfilled. How confident are you in the market expectations that exist for the different cannabis sectors?

Ja: In short, I do not. CMG mainly focuses on the non-flower based sectors. We view the CBD boom as a blessing and a curse for the cannabis industry. As a category of nutritional products that opened the door to education for the beneficial nature of hemp, CBD has been a boon. As flower-based markets return to normal, growth opportunities in the rest of the cannabis plant product sectors will be able to emerge from this economic shadow.

Hertz: What information is the industry lacking in terms of market insight and transparency? What intelligence is still required for greater convenience in business planning?

Ja: There are loopholes everywhere in collecting accurate information. Basic reports like how much is being grown, where is hemp being grown, the variety being grown has improved, and we are seeing great collaboration between individual growers, institutional organizations, and companies. Improved and consistent reporting of contingencies, supply chain constraints, types of investment opportunities, and processing solutions will give growers, processors, and manufacturers more confidence in business planning.

HT: Where do you see cannabis rising geographically around the world?

Ja: As the United States has changed its regulatory ban on cannabis, global policies that were initiated to be compatible with the United States continue to roll back. An identifiable trend is that long-term allies of the United States with many forms of cannabis ban are working hard to keep up with newly established regulations in the United States. One such example is the Japanese market, which is located at a similar point to where the United States is in the United States. the nineties and early twentieth century.

HT: CMG notes that cannabis cultivation, processing, and manufacturing infrastructures are still in their infancy. What are the keys to getting to the next level?

JaConnecting global stakeholders and coordinating federal, state, and regional STEM (science, technology, engineering, and mathematics) resources will help launch these infrastructures. Regardless of corporate policy, the cannabis industry could use someone like Elon Musk who could take the pre-emptive financial blow to shifting resource use, particularly in US investors who are well versed in the exponential benefits and aren’t worried about the cannabis industry. .

HT: The corollary to that is management: how would you rate the current overall management in the cannabis industries? What is required there?

Ja: It’s all related to the lack of communication and consistent and accurate intelligence among the managerial peers. We have a unique situation with the emerging cannabis industry. Many components of management have been tried and gone wrong in other industries – from seeds to supply chains (agriculture, building materials, etc.). There is a lot to copy and paste historically with some promising operational updates, so we hope the management processes will be streamlined to prove financially and environmentally profitable.

Hertz: How important is innovation to the advancement of industries?

Ja: Innovation is vital to the success of industrial progress. From a technological perspective, there are many supply chain needs that can revolutionize many aspects of the industry as a whole (equipment, KPI/Metrics software, etc.). To achieve real innovation, I would like to refer to the above question regarding resources and infrastructure. It is the creation of a well-equipped and carefully planned supply chain that will foster innovation throughout the industry as a whole.

Hertz: How do you see the development of cannabis at the commodity level?

JaI see that a delicate balance is needed between the various regulators, farmers, processors, and the rest of the supply chain to create a viable and sustainable commodity market. In the United States, there is still confusion and undefined regulations between states regarding testing requirements, transportation, zoning, etc., and I will say that many countries are working quickly to cooperate in solving these issues, and figuring out the future of the United States as a player in cannabis. The industry depends on it.

HT: Which cannabis market segments represent the following sweet spots?

JaAt a global level, hemp has the ability to work collaboratively with the wood products industry to advance ESG (Environmental, Social and Governance) efforts in establishing sustainable production and supply chain practices through the use of hemp for pulp and fiber in various wood product sectors. That’s everything from animal bedding to wood. Since construction products are certified to withstand loads, there are many applications where hemp can be used as a complementary and alternative material resource, giving additional scalability to the commodity.

Hertz: The corporate world gives a lot of talk about “corporate social responsibility” in relation to the environment and sustainability. How can the cannabis industry position itself to confront these critical issues in a meaningful way?

Ja: I could go on for days on rants regarding corporate social responsibility. If the hemp industry plays its cards right, we can put hemp into healthy climate spaces like carbon sequestration, soil remediation, fire retardants (forest management), erosion prevention to name a few. Brownfield site restoration is a quick example. Developing key partnerships with research and regulatory bodies will help advance cannabis use opportunities on environmental, social, governance and sustainability issues in a truly powerful way.

HT: What is your vision for how cannabis fits into the circular economy model?

Ja: This may be a broad and impossible vision, yet I feel that developing a sustainable cannabis industry can only succeed using this model. The cannabis industry is circular in many ways. We are in a rare situation because there is very little supply chain infrastructure. By adopting product life cycle reclamation protocols at this point in industrial development, we can ensure that circular economy principles and sustainable practices are integrated into the industry’s foundational DNA.

HT: What’s front and center with CMG these days?

Ja: making friends, intel, investments, and partnerships. Determining where and what these focal points are, both globally and in the United States, is a big part of our focus right now. Providing realistic analysis and advice to our clients depends on these three factors. Also, the research data collected from the university’s programs is high in peripherals. Given the unique intersection between agriculture and technology, we can assess the potential for supply and demand by making use of these studies.

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