One World Pharma Announces Planned Launch of Commodity-Based Cannabis Futures Program Designed to Provide Ingredients to Product Manufacturers
LAS VEGAS, Oct. 31, 2019 -- One World Pharma Inc. (OWPC), “OWP,” a fully licensed pure-play cannabis and hemp ingredient producer in Colombia, today announced the upcoming launch of the cannabis industry’s first ‘Cannabis Futures’ program at their growing operations in Colombia. OWP’s program is designed to support and fuel projected global cannabis industry growth by allowing manufacturers to fix their price in advance for cannabis and hemp derived ingredients produced by OWP at space specifically allocated to each specific manufacturer at OWP’s cultivation facilities in Colombia. The commoditized approach to sourcing hemp and cannabis ingredients anticipates and recognizes the natural maturity of the legal cannabis market and offers manufacturers of consumer-packaged goods (CPG) an easy way to enter the cannabis products market with a consistent supply of ingredients and predictable pricing.
With the cannabis industry predicted to continue to rapidly expand, scalability is an imperative in cannabis. One World Pharma believes that the future of cannabis is as a commodity, similar to coffee beans or orange juice where ideal ingredients are grown and sold to major consumer brands. While other cannabis companies have focused on being vertical plays spanning from seed to customer-facing dispensaries, One World Pharma is a pure-play cannabis business focused on one thing- supplying high quality hemp and cannabis derived ingredients to consumer brands. The upcoming launch of its Cannabis Futures program will provide these brands with predictable pricing for consistent, high-quality cannabis ingredients that allow them to keep their retail product offering consistent both in the deliverable and pricing.
“At its core, One World Pharma isn’t just a cannabis company, we’re an ingredients company,” said Chief Executive Officer, Craig Ellins. “Cannabis is now a commodity just like coffee or soybeans. We’re not interested in competing with the big players getting into branded cannabis products. Instead, we want to supply and enable them. Our Cannabis Futures program will provide major beverage companies, foods companies, cosmetic companies and any other enterprise looking to combine cannabis-based ingredients with their product offering with a streamlined path to enter the cannabis market.”
The Futures program will allow One World Pharma’s customers to commit to purchase a fixed amount of hemp and cannabis derived ingredients that will be grown and processed specifically to their unique requirements on land exclusively dedicated to them. This will allow One World Pharma to offer these customers a predetermined, consistent price for this future product. Customers will be able to lock in stable pricing while One World Pharma will be able to more accurately predict its own recurring revenue and optimize its growing operations.
In the future, One World Pharma believes that this model could lead to the development of a global cannabis commodities exchange. “We want to be part of creating the long-term global financial and supply chain structures for the cannabis industry,” said Ellins. “Partnership is one of our core values and the foundation of our socially responsible practices. We believe that strong infrastructure and systems will benefit the entire industry.”
One World Pharma’s socially responsible partnerships with indigenous communities and local farmers in Colombia will offer scalability to support its Cannabis Futures program and service the needs of large manufacturers, while blending ancestral techniques with state-of-the-art technology in one of the most ideal cannabis-growing locations in the world.