Cannabis Industry News

Importance of Cannabis Curing in Commercial Operations

Importance of Cannabis Curing in Commercial Operations

Attention to detail can make the difference between average and great cannabis products. Growing cannabis or hemp commercially is a multi-step process, so taking a holistic approach is especially important. 

In the process of cultivating quality cannabis, the first priority is sourcing quality genetics. Then, it’s all about taking care of the plants, tending to their needs, then finally, comes the crucial (but time consuming) part of harvesting, drying and curing, which can make or break the product.

Is there a way for businesses to benefit from a proper curing process without risking delays and interruptions in the supply chain?

Last Week In the Cannabis Industry

Last Week In the Cannabis Industry

Political groups in Sacramento, CA attempt to boycott statewide marijuana delivery services from operating. The California League of Cities, the California Police Chiefs Association and the United Food and Commercial Workers (UFCW) Western States Council started the website “Stop Wandering Weed,” promoting tighter regulations on commercial cannabis activities. Read more here.

Forbes: Ganjapreneurs in California to Earn More Than $5B in 2018

California cannabis entrepreneurs will earn $5.2B in revenue in 2018 as recreational use becomes legal there. The state of California will collect about one billion dollars in accompanying marijuana taxes. These numbers, estimated by Matt Karnes, industry analyst and managing partner of New York’s GreenWave Advisors, point to the giant need for banking and financial services in the nascent legal cannabis industry. These services however are generally not available says Karnes, and are federally illegal. Some glimmers of change though, are on the horizon.

Banking is severely limited for cannabis industry businesses. As a “schedule one” substance, cannabis is categorized to be as harmful as heroin and banks risk losing their federal charter if they work with cannabis companies. Financial institutions need to go on record with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCen) when they establish a relationship with a known Marijuana Related Business, and Karnes estimates that just 5% of all banks have done that. He believes that fewer than 1% of all banks in the United States are currently working with cannabis related companies.

– Read the entire article at Forbes News.