Cannabis MarketFinance

Charlotte’s Web Increases Hemp Harvest Ten Times Over to Meet Explosive CBD Demand

By January 22, 2019 No Comments
joao-marcelo-marques-791496-unsplashCharlotte’s Web Holdings, Inc. (OTCMKTS: CWBHF) just announced the company’s 2018 hemp harvest results and they were an astounding 10 times that of their 2017 hemp season.

All of the high-quality produced cannabis from Charlotte’s Web will be utilized for its cannabidiol (CBD) extracts in various CBD products in 2019 and 2020.

President and Chief Executive Officer of Charlotte’s’ Web, Hess Moallem, stated: “Charlotte’s Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand.”

In 2018 the company planted 300 acres of hemp, up from 70 acres in 2017, across the United States in outdoor plots. Outdoor plots spread across the U.S. were created in order to hedge against crop losses from severe weather or other issues that can devastate an entire crop in a localized region.

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