Cannabis attorney, Michelle Mabugat, provided commentary to the Los Angeles Business Journal regarding Glass House Group's decision to grow hemp in the Mojave desert due to less residential opposition. The goal is to produce CBD oil, gummies, and other various products. According to Mabugat, the additional capital base may give SoCal Hemp the ability to withstand the current contraction. 

Excerpts: 

“ln 2019, farmers overproduced hemp in anticipation of high demand for CBD; in retrospect, that demand was overhyped.”

"The result is that consolidation is now underway among hemp producers."

Read the full article here. 

Resources

• Los Angeles Business Journal (subscription required)