How the coronavirus can affect the cannabis industry

As news reports continue to alert society on the latest outbreak of the coronavirus known as COVID-19, the cannabis industry isn’t exempt from this global concern.

A huge majority of vaporizer devices and accessories are manufactured in China, from flow of hardware, batteries, LED lights to countless product packaging and grow facilities are being affected as cultivators using LED lighting, greenhouse structures and packaging and extraction equipment providers are produced in China as well. The US imports about 30 million Chinese vape pens and cartridges every month.

While many companies haven’t yet felt the effects – and some might not at all, depending on their type of business and where they operate – the interconnectedness of the supply chain has industry experts convinced that, eventually, nearly everyone in the industry will be affected in some way, all the way to cultivators and retailers.

Concerns about the U.S. and global economy can play into affect on the cannabis industry from a shortage of Chinese-hemp being exported around the world to predictions of a recession that can largely affect household incomes and results in a decline on sales and demands for products.

On the flip-side, American companies can step and fill-in where Chinese manufacturers currently can’t and further shift the paradigm of economic flow in months or years to come by offering competitive prices and building on the bond between domestic brands and suppliers.

As the spring season nears, cannabis conferences and expos have found this to be a great time to showcase new products, brand highlights, meet with members of the press and prep for upcoming summer and fall sales but with concerns of contracting the novel coronavirus has exhibitors and attendees wanting to backout and be refunded.

Natural Products Expo West, which included a number of CBD exhibitors, on Monday abruptly postponed its 2020 event in Anaheim, California, after a huge number of registered exhibitors and attendees announced plans to drop out because of coronavirus concerns. The event was scheduled to start Tuesday.

CannaTech, a prestigious event focused on medical cannabis innovation scheduled to begin March 30 in Tel Aviv, Israel, announced plans Tuesday to postpone its event until mid-June, citing recommendations from the Israeli Ministry of Health, the World Health Organization and the Centers for Disease Control and Prevention.

The decision to postpone or cancel events has upended the business and travel plans of hundreds of cannabis and hemp companies, forcing them to rethink their conference plans.

Prevention Tips for Cannabis Community

Stop sharing joints, blunts, and bongs – People have been know to catch a cold or flu from another individual so of COVID-19 can be transmitted.

Wash your hands frequently – You should be doing this with or without viruses impacting the planet

Be mindful of physical contact with others – Don’t feel bad about giving someone a head nod or peace sign. They’ll understand.