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 is often regarded as one of the purest forms of cannabis, comprising nearly 80% CBD and the remaining 20% being cannabinoids, terpenes and other extracts.
The desk, which was first introduced in the California THC market, has in no time expanded into the national CBD market using an established network of farmers in states viz. Kentucky, Colorado, North Carolina, South Carolina, and West Virginia. Furthermore, the desk now looks all set to add its first international sourcing pipeline in the form of Colombia!
All the suppliers and buyers listed on the desk have ‘qualified’ after a thorough scrutiny of their growing sites, manufacturing processes, licensing, management, compliance, etc.