Vendors of hemp raw materials and bulk finished and branded goods can place their products on HempTrade, an online marketplace, free through Sept. 1, the platform’s owners said. Launched today during NoCo Hemp Expo in Colorado, USA, Hemptrade aims to strengthen communication among industry players and thereby give a boost to the hemp value chain.
“Bulk raw materials and wholesale goods will continue to cross borders until the time when more local and regionalized hemp economies can be built up,” said Kehrt Reyher, HempTrade founder and Editor and Publisher of affiliated HempToday. “And our research showed a definite information gap that is holding back market development. Companies just aren’t connecting as they should be.”
The platform facilitated a couple of transactions even before it went live via a beta version shared among a roster of key companies. Those firms made up a focus group that helped guide HempTrade’s strategy. That feedback was supplemented with informal spot surveys over time of prices for some raw materials categories.
Reyher said even such basic tools as good industry data bases of firms operating in key industry categories are missing – a weakness he said HempTrade will address when it rolls out a global directory for the hemp industry in late April. “We’ve been gathering information and evaluating firm after firm on both the buying and selling side for two years,” Reyher said, noting the need to identify and warrant trustworthy partners to make the market function most efficiently.
HempTrade will be glued to HempToday to create a “media-to-market” bouquet of services in support of buyers and sellers. Those services include custom content generation, social media support, website builds and print editions of HempToday at key hemp events – all of which be leveraged to benefit HempTrade participants.
MPR Studio, another affiliate in the HempToday group, created the web platform with WordPress and WooCommerce.