Data firm BDS Analytics predicts that the hemp market which is currently experiencing a reawakening in the United States will reach $20 billion by 2024.
With the idea of massive hemp and cannabidiol (CBD) markets becoming a reality within just a few years, the Southern Hemp Marketplace, LLC. (SHM) is looking to bring producers, traders, and consumers together in one place.
On Thursday, SHM announced that it will host hundreds of farmers, growers, processors, and traders at the first-ever International Hemp Auction and Market (IHAM) this Fall.
IHAM is also planning to host a Holiday Hemp and CBD Market with more than a hundred retail vendors selling organic and conventional hemp and CBD products which they expect will draw thousands of consumers and holiday shoppers.
SHM will donate a portion of sales and proceeds to non-profit, non-partisan political action supporting hemp and hemp product legislation and regulation.
Both concurrent events will take place November 19-21 at the Williamson County Agricultural Expo Park in Franklin, Tennessee.
“The hemp industry is evolving rapidly and, with a critical harvest period upon so many first-time crops, it’s crystal clear that thousands of hemp growers across the United States need venues for fair-market pricing,” said Southern Hemp Marketplace CEO Mark Chase. “Likewise, hemp CBD extractors and processors need access to large volumes of quality hemp and related product inventory to meet consumer demands, but also to ensure operations are at maximum utilization.”
Tennessee Growers Coalition president Joe Kirkpatrick says that IHAM is a visionary step for the hemp industry that will help fuel education and advocacy efforts for products that people everywhere want to purchase.
Kirkpatrick says that it’s exciting to see big and small industry players come together to establish fair and competitive prices for hemp and CBD products at North America’s largest live international hemp auction to date.
In addition to the November event, SHM is planning to hold other auction-based events across the country.
Sponsorship opportunities for the November auction are currently available and IHAM is looking to begin sales of general admission tickets and registration for buyers, sellers, vendors, and exhibitors on September 16, 2019.
