When we entered the industrial hemp products space as the first licensed processor in the State of Tennessee, we woke up every morning with a smile on our faces. We knew, each day, that we would be helping people and making a living doing it. That is a great way to live and work. But the industry got harder along the way due to many regulatory and competitive factors. Many companies lost their way, but we stayed our course.
Since 2015, we have strived to stay ahead of the competition. We have seen the artificial commoditization drive down prices on hemp biomass and extracts. Yet, the price of retail products has not kept pace with the price of the commodities. Why? The simple answer is that there are too many hands in the cookie jar.
In the journey from a field of hemp to a finished consumer product, there are many layers. This starts with the farmer, moves to the processor, and then the formulator, the bottler, the broker, the distributor, the wholesaler, and finally to the retailer. That is a lot of mouths to feed, and the result is that the consumer is paying too much for the products they need. We have eliminated the extra hands and mouths.