California based Grupo Flor launches industry’s first commodity trading desk

Grupo Flor, one of the largest cannabis corporations in California, has made a trading desk aimed at bringing buyers and sellers in the budding cannabis industry on a single platform. Being hailed as the industry’s first cannabis commodity trading desk, the platform is basically a proprietary version of the commodity trading software the company had earlier developed. As per an official press release by the company, the new desk has already executed several million dollars worth of trade (purchase and sale of raw cannabis materials). “We created a more efficient exchange for buyers and sellers by solving 2 major problems,” said Paul Henderson, Grupo Flor CEO. “Buyers are sourcing raw materials from a number of entities and many of the products are inconsistent and unreliable. On the other side, these sellers don’t have the support and logistics infrastructure to efficiently sell and transport their product. We think this trading platform is a win-win situation for the entire industry.” Notably, the Grupo Flor trading desk is for verified partners only and “cannot be used by other parties”. The commodities that can be reportedly traded through the desk, include THC trim, hemp biomass, THC/CBD crude and distillate oil and CBD isolate, which… continue reading

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Source: CTRM Center

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