Hemp Industry Updates
COVID-19 Pandemic Positively Pushes CBD Sales to Greener Pastures
In the beginning of the COVID-19 crisis, people started stocking up on weed, and the kind that causes a high, for stress relief. However, it seems sales for CBD products have increased as well, especially in the past few months. For example, the UK-based CBD company Alpha Green says people are buying their products like never before. Their number of clients since the beginning of the Coronavirus pandemic hit has increased to 8.4 million. This means the UK is going to spend more than $550 million on CBD products, and up 50% more this year than last year.
People Want CBD Products to Reduce Anxiety
It’s not that everyone is buying CBD to try and stop the COVID-19 from developing. People know things don’t work this way. It seems they want CBD formulas to reduce their anxiety levels, seeing stress has been a major issue in the last few months. Here’s what the CEO of Alpha Green, Alexej Pikovsky, had to say about this:
“The key here is that with people feeling anxious, having trouble sleeping and, in some cases, feeling let down by the traditional health system, they have looked for alternatives.”
Others want CBD to deal with chronic pain or insomnia.
The CBD Companies in the US Enjoying Legality
In the US, it looks like CBD companies are enjoying the legality of using marijuana. Pot shops here reported an increase in CBD sales since the COVID-19 pandemic started too. The New Mexico-based Santa Fe CBD firm says its sales increased significantly ever since there’s a health crisis, also that people want CBD products to deal with anxiety too. Charles Talachy, a co-owner of Santa Fe CBD said that:
“It's been a steady climb, definitely. This whole COVID-19 lockdown has played a big role.”
Can CBD Help Treat COVID-19?
Nothing can be proven yet on how or if CBD can help treat COVID-19. However, scientists from Canada and Israel are trying to see if the hemp ingredient is able to help combat the new virus when used with conventional drugs and steroids. At the same time, marijuana activists and doctors advise everyone with Coronavirus symptoms to not vape or smoke weed because smokers are more affected by the very dangerous illness. Either way, authorities in the US are all over CBD companies that claim their products can treat COVID-19. Until now, 4.2 million people were identified to have the Coronavirus, which appeared in more than 122 territories and countries, causing 284,000 deaths. The number of those who have recovered from Coronavirus is 1.5 million.