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The Cannabis Market Shifts as Farm Bill is Now Law; Will the U.S. Be the New Driving Force for 2019?
The Cannabis Market Shifts as Farm Bill is Now Law; Will the U.S. Be the New Driving Force for 2019?.
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[{"type":"text","content":"\nPOINT ROBERTS, Wash. and DELTA, British Columbia, Dec. 28, 2018 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks, releases a snapshot looking at the growing North American opportunity for the CBD and Hemp market as the 2018 Farm Bill was passed into law.\n Canada took the lead in the sector legalizing cannabis in October this year, but all eyes are now on the U.S as the Farm Bill was passed and new States continue to legalize cannabis.The U.S. cannabis market is expected to generate $23.4 billion in sales by 2022, according to Arcview Research. Edibles sales are on track to reach more than $4.1 billion by 2022, according to Arcview Market Research in partnership with BDS Analytics. They also report in 2018, consumer spending on cannabis-based food and drink is projected to reach $1.5 billion in United States and Canada.    So what about 2019?  Many companies, both large and small have been taking note of the potential revenue the Farm Bill will generate and have been working diligently to prepare for this moment. Tilray, Inc. (NASDAQ:TLRY), a global leader in cannabis research and production, plans to be one of the leaders with recent announcements of its letter of intent to purchase hemp-derived CBD isolate from LiveWell Canada, in addition to news of a joint research partnership with Anheuser-Busch InBev (NYSE:BUD) into non-alcoholic, cannabis-infused beverages. The deal with LiveWell calls for them to supply Tilray with CBD isolate made from hemp cultivated and processed in the U.S. and Canada, with first supply commencing in February 2019. The CBD isolate will be used to process finished CBD cannabis products for distribution by Tilray in Canadian and U.S. markets, subject to applicable federal and local laws and regulations. Now that the Farm Bill has been signed into law and Canada has opened the doors for edibles in 2019, the path is clear.   AB InBev (NYSE:BUD) is the third alcohol company to partner or invest in a Canadian marijuana producer after Molson Coors Brewing Co. signed a joint venture with Hexo Corp. and, most famously, Constellation Brands Inc. invested in Canopy Growth Corp (TSX: WEED) (NYSE: CGC) to become the biggest shareholder in the company. Tobacco company Altria Group Inc. also announced a $1.8 billion&#...