Over £300m was spent by UK consumers on CBD – Cannabidiol – in 2019. This opportunity, expected to grow to £1bn in 2024, is just one of the many uses for industrial hemp, Cannabis sativa. The potential of this versatile crop is to be discussed at the Agri-TechE ‘Farmer to Pharma’ conference in partnership with Hanway Associates.
Although the UK can grow Cannabis sativa very well, UK-based Equinox – a vertically integrated cannabis company – currently grows its medicinal and pharmaceutical cannabis in Austria.
The worldwide legal cannabis industry generated revenues in the region of £11.5bn in 2019 and is expected to grow to around £35bn by 2024. The potential margins from growing medical cannabis are more lucrative per gram for a grower than strawberries.
Crop17 is a new initiative to support the develop medical cannabis facilities, launched by Savills in partnership with Hanway Associates, a leading cannabis strategic consultancy and CambridgeHOK, an innovative glass-house builder.