Related businesses supporting the development of modern cannabis farming

The results obtained in the course of the round table “Related businesses ensuring the development of modern cannabis farming” by the specialists of the Ukrainian Technical Hemp Association together with experts from the Hemp Consulting information and analytical platform will be systematized and presented on the Hemp Market platform in the form of appropriate presentations, as well as recorded video content during the event. 

During the first day of training for the students of the "Hemp University", a specialized round table "Associated businesses that ensure the development of modern cannabis growing" was held. As part of the above event, representatives of individual companies that specialize in the provision of legal, consulting, marketing and other services related to the development of the modern cannabis market in our country spoke to the audience.

The representative of the information and analytical platform Hemp Consulting focused the attention of the listeners of the "Hemp University", as well as the participants of the event, on the fact that modern cannabis growing presupposes a deep understanding of the processes taking place both on the global and national sectors of the industry predetermines the need to determine the optimal niche in which it makes sense to invest resources. The point was emphasized that “asphalt investors” do not need to focus on the cultivation of the hemp plant. At the very least, it is necessary to consider projects for investment in processing or building an effective sales system as an effective alternative.

During the round table, those present at the event were clearly shown how the study “Hemp beauty industry in the world and in Ukraine (from the use of derivatives of grain, young shoots and roots in the formulations of cosmetic preparations, to the“ green mass ”of the hemp plant)" influenced a radical revision of the line cosmetic products manufactured by one of the companies that brought to the market 16 types of cosmetic products made on the basis of technical hemp (including the introduction of new cosmetic products to the market), a radical revision of the marketing strategy for promoting individual products of the above company on the market.

Representatives of another project of the Association “Ukrainian Technical Hemp” - the electronic trading platform “Hemp Market”, shared analytical materials that were obtained during the study of the national hemp retail market. The information provided by the employee of the electronic trading platform “Hemp Market” can be systematized into the following key categories:

- the population of the country is rapidly becoming poorer throughout the year, which significantly affects the volume of sales both in individual segments and in the entire market as a whole;

- the shortage of marketable grain, due to the mass sale of the grown crop abroad in 2021, led not only to a significant increase in the cost of products, primarily in the grocery sector and the pet business segment, but also to the curtailment of the activities of individual companies that simply cannot find what to make products with added cost;

- if in the period before the COVID-19 pandemic, the trends of the national food market developed in a pan-European direction (there was an increase in the use of various types of products with significant added value - husked grain, hemp protein, etc.), then at the moment we can talk about partial market regression - the return of the majority of buyers to the lowest marginal products, suggesting the use of ordinary hemp grain as a food product in most cases;

- huge difficulties in introducing new products to the market are demonstrated by the examples of hemp “cheese”, “condensed milk”; fiber products with essential therapeutic properties (insoles with biological impregnation, face masks impregnated with an organic-mineral complex of humic substances), etc.

During the round table, the attention of those present was focused on a significant increase in the market of IT services aimed at ensuring modern cannabis breeding. This area at the national level is in a “embryonic” state and its rapid development in Ukraine is just a matter of time.

The results obtained in the course of the round table “Related businesses ensuring the development of modern cannabis growing” by the specialists of the Ukrainian Technical Hemp Association together with experts from the Hemp Consulting information and analytical platform will be systematized and presented at the Hemp Market in the form of appropriate presentations video content during the event.