Southern California will soon be home to Mojave Desert-based organic hemp production through a newly created joint venture between natural resources company Cadiz Inc. and cannabis cultivator Glass House Farms. Scott Slater, president and CEO of Cadiz told Cheddar Tuesday the company is "bullish on the long-term prospects for organic, California-based CBD and hemp."
The two companies are creating SoCal Hemp, which will grow the industrial hemp in the desert, a location Slater said is beneficial as there are "not a lot of bugs in the desert," more hours of sunlight throughout the year, and "organic and pristine" soil.
"Our intention is to control our distribution chain so that we would raise hemp, process our CBD and then use it in forward retail distribution," Slater said of the new partnership.
With SoCal Hemp now entering its commercial phase after two test phases, it is expecting to cultivate 200 acres in the spring and 1,000 acres by the end of 2020.
"We do not expect to, or want to, compete with the super-large players who are going to be doing tens of thousands of acres of industrial hemp," he said. "Our intention would be to split up what we have, to maximize our value in the CBD space for our own products and distribution, and then to have arrangements with forward-thinking companies that are interested in substituting hemp for cotton fiber," Slater said.
SoCal Hemp intends to use some of the crops as a potential substitute for cotton and some for CBD, Slater said.
"There is a strong belief that the use of hemp from farm to fiber can be an important substitute for things like cotton," he said, noting that the cultivation of hemp uses a relatively low amount of water when compared to crops like hay.
"Ours is really a niche. We want to be associated with organic, sun-raised, California hemp," Slater said.
Lukas Alpert of MarketWatch explores how networks, brands, and ad buyers absorb the shockwaves when late‑night show hosts are suddenly cut — and brought back.
A new poll finds U.S. adults are more likely than they were a year ago to think immigrants in the country legally benefit the economy. That comes as President Donald Trump's administration imposes new restrictions targeting legal pathways into the country. The Associated Press-NORC Center for Public Affairs Research survey finds Americans are more likely than they were in March 2024 to say it’s a “major benefit” that people who come to the U.S. legally contribute to the economy and help American companies get the expertise of skilled workers. At the same time, perceptions of illegal immigration haven’t shifted meaningfully. Americans still see fewer benefits from people who come to the U.S. illegally.
Shares of Tylenol maker Kenvue are bouncing back sharply before the opening bell a day after President Donald Trump promoted unproven and in some cases discredited ties between Tylenol, vaccines and autism. Trump told pregnant women not to use the painkiller around a dozen times during the White House news conference Monday. The drugmaker tumbled 7.5%. Shares have regained most of those losses early Tuesday in premarket trading.
Scott Trench, host of the BiggerPockets Money Podcast, explores how recent rate cuts, high borrowing costs, and mortgage rates are reshaping U.S. real estate.
A look into how disruption, AI, and global economic trends are transforming the modern supply chain with Jeremy Jansen, Head of Supply Chain at Wells Fargo.
Delta CSO Amelia DeLuca reveals at the Fast Co. Innovation Festival how tech, sustainable aviation fuel, and smart operations are revolutionizing air travel.
