420 with CNW — PanXchange Launches Industrial Hemp Trading Platform

February 23, 2022 16:25:00

Earlier this week, PanXchange launched its industrial hemp trading platform, which is open to qualified CPG manufacturers, processors, growers and trade houses, waiving commissions and registration fees. PanXchange has created buyer-approved methodologies that are inclusive of farmers, both small and large. The platform is focused on creating benchmark pricing for improved risk management and physical commodity trading markets.

PanXchange CEO Julie Lerner explained that since the legalization of hemp, the growth of the hemp industry has suffered greatly because of competition, overproduction, stigma in mainstream agriculture and subsequent mergers and acquisitions, which wasn’t helped by the coronavirus pandemic. Lerner added that the platform was launched to help support the community as the company believed in the crop’s future as an industrial product, which is why it opted to waive commissions and registration on all semiprocessed fiber and cannabinoid trading. This free trading decision complements the company’s grassland and cropland carbon credit program.

Hemp is a carbon-friendly commodity that sequesters carbon found in the soil. Studies have found that this crop can trap 200% more carbon annually than eucalypt trees. It can also be used as an ecofriendly substitute in products such as bioplastics, building materials and hempcrete.

Lerner also explained that most programs available to farmers currently were prohibitive and costly, noting that farmers needed to be financially remunerated for using smarter farming practices. Their program, she added, provided a viable solution. The company’s hemp platform provides a centralized and user-friendly marketplace where parties can trade and source hemp cannabinoids as well as a variety of other industrial hemp products.

The company’s director of hemp Seth Boone stated that opening the market also offered the company more opportunities to build liquidity. He explained that the platform was synonymous with a cash market, which was where industry stakeholders went to manage last-minute issues with supply chains, seek short-term opportunities and observe current prices. Boone noted that negotiating a long-term contract with a counterpart involved having confidence in the price.

The PanXchange hemp platform serves as a resource for stakeholders to extend their supply chain networks and will help facilitate the full commercialization of hemp in various sectors, including textiles, bioplastics and building materials.

While the company’s meticulous vetting process remains unchanged for new members, its interactive charts, in-depth fundamental analysis and monthly benchmark prices do require a subscription. PanXchange remains focused on developing the same grassland and cropland carbon credits, which offer its clientele better risk management and hedging.

If this exchange pans out as expected, it could eventually attract established players in the cannabis value chain such as Flora Growth Corp. (NASDAQ: FLGC) to source any additional biomass needed for their operations.

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

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