Cannacurio: Virginia’s Industrial Hemp – Overview
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Last week we reported on one of the three license types administered by the Virginia Department of Agriculture and Consumer Services (VDACS). This regulator manages hemp registrations for all participants in the value chain, including growers, processors and traders. As with hemp dealers, regulators will report these licenses to state police and law enforcement agencies.
In total we found 2,299 licenses with cultivation as the most common activity:
This is in line with what we’ve seen in other states where cultivators make up the majority of licenses. Hemp cultivators account for 63% of the active hemp licenses in the database, so Virginia isn’t too far off the norm.
Licenses have been registered across the state covering most of the 95 counties and independent cities. Here is the ranking for the top 11:
Since we’ve reviewed hemp licenses, vertical integration is a factor that we consider important. If companies buy a lot of licenses, it can change the competitive nature of the industry. In Virginia, based on trade names, there doesn’t seem to be too much concentration, although many licensees have received 2, 3, or even 4 licenses:
325 licensees have received 745 licenses, which corresponds to about 32% of the total license granted. In Texas, we found less concentration with 88% of licensees getting a license, compared to just 68% in Virginia. This at least depends somewhat on the license types available. Virginia’s activities were more traditional than those offered in Texas because they included a trial license.
Cannabiz Media customers can stay up to date on these and other new licenses through our newsletter, alert and reporting modules. Subscribe to our newsletter to receive these weekly reports in your inbox. You can also schedule a demo for more information on how to access the Cannabiz Media License Database yourself to delve further into this data.
Cannacurio is a weekly column from Cannabiz Media that offers insights into the most comprehensive license data platform. Check out Cannacurio posts and podcasts for the latest updates and information.