SALINAS, Calif.–(BUSINESS WIRE)–Mar 28, 2019–Grupo Flor ™, a multi-national vertical cannabis company, has launched the cannabis industry’s first commodity trading desk. Using a proprietary version of commodity trading software the company developed, the desk connects buyers and sellers for the purchase and sale of raw cannabis materials including hemp biomass, THC flower, THC trim, CBD/THC crude and distillate oil, and CBD isolate. In its first week of operation, the desk executed several million dollars worth of trades. “We created a more efficient exchange for buyers and sellers by solving two critical problems,” according to Grupo Flor CEO Paul Henderson. “Buyers are sourcing raw materials from an array of entities and many of the products are inconsistent and unreliable. On the flip side, these sellers don’t have the support and logistics infrastructure to efficiently sell and transport their product. We believe this trading platform is a win-win for the entire industry.” Expansion plans The desk was initially introduced in the California THC market but has rapidly expanded into the national CBD market using an established network of farmers in states including Colorado, Kentucky, North Carolina, South Carolina, and West Virginia. The desk also plans to add Colombia as its first international… continue reading
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Source: CTRM Center