US Hemp seed sales - Iofina update22 Jul 2020 10:09
RNS released this morning from Iofina - paragraph relating to their own US hemp seed sales and issues selling....
"Iofina's continues to monitor carefully its investment in the hemp seed joint venture with Organic Vines OP (the "JV"). Hemp seed sales from seed suppliers across the USA have been much lower than expected due to the uncertainty of COVID-19 combined with the lack of a comprehensive USA hemp crop insurance program available to all farmers. Planting in the USA this year has declined nearly 60 percent compared to 2019 hemp planting and, to date, the seed sales from the JV through its sales partner have been much lower than expected. It is not clear when the seed sales will complete, but it appears that sales are likely to continue into 2021, as a significant portion of seed is likely to be sold into international markets. The Company will update the market on the progress of hemp seed sales from this JV in due course."