Welcome to the latest episode of the Arbor Vita8 Podcast. At AV8, we specialize in providing you with all the most up to date information on the hemp industry. From news, to education, to important farmer information, and more. If it’s hemp-related, we can likely facilitate things to some degree.
On today’s episode, Jason is joined by Seth Boone. Seth represents PanXchange. Among other things, “it is the place for benchmark and index prices on [our] favorite commodity, hemp.” Seth says that, above anything, their goal is to stimulate market growth. They figure by gathering this data, it can serve as a tool for all industry participants.
The PanXchange Story
PanXchange first began a literal decade ago. It got its start overseas, servicing specific areas in Africa. After taking the time to learn and grow in this environment, the group saw an amazing opportunity. The 2018 Farm bill passing changed almost everything we knew about the hemp industry.
“We jumped on [it]… [we’ve] reported prices and developed a platform [to grow with the] hemp market.” The overall goal stays the same: help the industry grow in all markets. From cannabinoids, to industrial factors. PX helps to gain resources that will assist in stimulating the market.
What PX Does
“There’s two main prongs of our business model: price reporting… and being a supplemental spot market for industry growth. The first includes being a staunch market observer. We take the information from observing its trends and use it to support the industry. This helps to develop a guideline of sorts to be used well after by anyone interested in the industry.
Also, as the industry grows, members can look to us as a supplemental market. This can help big hemp companies minimize failure points in a number of ways. The goal isn’t to replace the existing market process, but instead to amplify it.
Knowing The Numbers In Hemp
One of the biggest issues pressing the hemp industry today involves newcomers. Many newbies, as well as some seasoned members, don’t know standard industry pricing. Having a tool that corrects this helps to even the playing field for all. No more having to worry about whether the rates your hearing are legitimate. PanXchange is here to help!
PanXchange covers “any kind of price and data need…. This ‘involves both long term contracts… including transparent data,” and more. The platform does everything in its power to ensure that price reporting is accurate. This ethical approach is one of many reasons why PanXchange is “a proven methodology.”
The growth of PX and its hemp efforts has been noticeable, to say that least. Jay recalls seeing them in an earlier state just a year ago. Since then, they’ve grown to cover many markets, including our region of the Southeast.
They have a significant foothold in areas of the nation that have long been forward thinking on hemp. This is where the largest wealth of empirical industry information can be found. PanXchange mines it, collates it, and presents it to interested parties. This will help the industry expand even further than we could have imagines. Watch the full interview here!
Staying on top of the latest news and developments within the hemp industry is crucial for us at Arbor Vita8. We pride ourselves on our ability to innovate and adapt to the changing needs of the industry, helping you reach your greatest potential as a hemp farmer or manufacturer. To learn more about our latest facility enhancements, and how our array of services offer you a complete experience, from seed- to-sale, contact us today.