Virtudes expands exports
Hemp company ships more products to the UKThursday, December 02, 2021
Jamaican hemp company Virtudes recently completed another shipment of hemp flower to the United Kingdom as part of an aggressive push towards increasing its reach in more international markets.
The most recent shipment saw Virtudes exporting raw flower to UK-based nutraceutical company Nassential, which produces medicinal products. Prior to that, Virtudes exported hemp flowers to its partners in the United States who used it to produce cosmetic products such as skin salves.
Jamiel Jamieson, chairman and CEO of Virtudes, explained, “Jamaica's hemp has such a big global appeal due to its high quality and medicinal properties. We are excited to be able to export products to our international partners as the demand is growing.”
The hemp plant has over 25,000 uses and is an all-year-round crop. Its use spans many industries, including pharmaceuticals, food and beverage, cosmetics, skincare, beauty, clothing and textiles, and fuel.
Virtudes has been successfully exporting its hemp flower and biomass to its partners in the United States and the United Kingdom since it began cultivation and production in 2019. As one of only three hemp farms in the Caribbean, and the only vertically integrated hemp farm in the region, it is looking to increase demand for Jamaican hemp and its derivatives through investment offerings and increased partnerships.
Virtudes COO Farrah Zargaran said, “The export market for Jamaican hemp is growing at such a rapid rate and so the potential for more global partnerships is growing as well. We are happy to say that our partners in the United States and the United Kingdom are extremely happy with the quality and potency of the hemp we have been supplying – so much so that they are looking at receiving exports on a monthly basis.
“We have over a dozen partnerships in the works for product processing, offstage and product development as well as white labelling and co-branded Jamaican hemp-derived products.”
Virtudes is looking to expand to more countries including Germany, Australia, Brazil and South America, in the hopes of positioning Jamaica as the leading hemp producer in the region.
The global industrial hemp market is projected to grow from US$4.6 billion in 2019 to US$26.6 billion by 2025. The profit margins from growing hemp are great due to the versatility of the plant. Most people who cultivate hemp do so to get cannabidiol or CBD oil, which is used in the health and wellness industry as a remedy for a number of conditions including arthritis, inflammation and chronic pain.