Earlier this week, PanXchange launched its industrial hemp trading platform, which is open to qualified CPG manufacturers, processors, growers and trade houses, waiving commissions and registration fees. PanXchange has created buyer-approved methodologies that are inclusive of farmers, both small and large. The platform is focused on creating benchmark pricing for improved risk management and physical commodity trading markets.
PanXchange CEO Julie Lerner explained that since the legalization of hemp, the growth of the hemp industry has suffered greatly because of competition, overproduction, stigma in mainstream agriculture and subsequent mergers and acquisitions, which wasn’t helped by the coronavirus pandemic. Lerner added that the platform was launched to help support the community as the company believed in the crop’s future as an industrial product, which is why it opted to waive commissions and registration on all semiprocessed fiber and cannabinoid trading. This free trading decision complements the company’s grassland and cropland carbon credit program.
Hemp is a carbon-friendly commodity that sequesters carbon found in the soil. Studies have found that this crop can trap 200% more carbon annually than eucalypt trees. It can also be used as an ecofriendly substitute in products such as bioplastics, building materials and hempcrete.
Lerner also explained that most programs available to farmers currently were prohibitive and costly, noting that farmers needed to be financially remunerated for using smarter farming practices. Their program, she added, provided a viable solution. The company’s hemp platform provides a centralized and user-friendly marketplace where parties can trade and source hemp cannabinoids as well as a variety of other industrial hemp products.
The company’s director of hemp Seth Boone stated that opening the market also offered the company more opportunities to build liquidity. He explained that the platform was synonymous with a cash market, which was where industry stakeholders went to manage last-minute issues with supply chains, seek short-term opportunities and observe current prices. Boone noted that negotiating a long-term contract with a counterpart involved having confidence in the price.
The PanXchange hemp platform serves as a resource for stakeholders to extend their supply chain networks and will help facilitate the full commercialization of hemp in various sectors, including textiles, bioplastics and building materials.
While the company’s meticulous vetting process remains unchanged for new members, its interactive charts, in-depth fundamental analysis and monthly benchmark prices do require a subscription. PanXchange remains focused on developing the same grassland and cropland carbon credits, which offer its clientele better risk management and hedging.
If this exchange pans out as expected, it could eventually attract established players in the cannabis value chain such as Flora Growth Corp. (NASDAQ: FLGC) to source any additional biomass needed for their operations.
NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC
About CNW420
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer
Do you have questions or are you interested in working with CNW420? Ask our Editor
CannabisNewsWire420
Denver, Colorado
http://www.CNW420.com
303.498.7722 Office
Editor@CannabisNewsWire.com
CNW420 is part of the InvestorBrandNetwork.
