As the UK is now about to declare an epidemic due to COVID-19 aka Coronavirus, we wanted to share our intel regarding the plant (specifically the healing benefits) and also from a market perspective.
Marijuana and hemp companies of all stripes across the planet are joining other global industries feeling the fallout from the coronavirus outbreak.
This is mostly in part to the fact that a lot of inexpensive cannabis hardware is made in China, but also stems from the economic shock the virus is inflicting on the world economy overall.
Latest stats show 100,000 cases of Coronavirus, with approx 50% cured and 3,500 deaths. The virus has now spread everywhere except Antartica, with documented cases of the illness growing and upending public markets.
The key likely impacts on the UK CBD industries include:
Shortages of hardware made in China, especially for CBD vaporisers
Shortfalls of raw Chinese hemp material being exported to the UK and elsewhere
Financial ripple effects from the downturn in stock markets, further scaring off investors from cannabis
This all means there is a silver lining for UK companies, if there’s the option for your business to switch vendors.
Some positives for business would include:
Upturn of CBD sales from people trying to raise their immunity
CBD sales increase on oils from people using CBD to treat any signs of inflammation, weakness
Increase in awareness on health benefits of CBD as more people research how to raise their immunity
We can expect to more ayurvedic consumption patterns, as as result of this epidemic. For businesses in the UK, it is a key time to start offering your services to clients that might be importing from China.