A mysterious respiratory disease that has hit hundreds of vapers has affected the American hemp market. In the United States, sales of cannabinoid fluids for electronic cigarettes are declining.
Consumers switch from vape to marijuana and cannabinoid food
On September 19, the U.S. Food and Drug Administration (FDA) released a report on an epidemic among vapers. The agency recorded 530 cases of the disease and eight deaths from drinking fluids released under 150 different brands. FDA researchers investigated nicotine and THC products, but have not yet figured out the cause of respiratory illness.
Cannabis One Director Jeff Masio has recorded a negative trend in the hemp vape market. However, enterprise customers began to buy marijuana and cannabinoid foods more often. Before the onset of the crisis, liquids accounted for 23.8% of the total trade in hemp products. By September 9, this figure decreased by 3.2-4.6% (depending on the particular state). Revenue from the sale of cartridges and vape oil fell by almost a quarter.
Nevertheless, Cannabis One management is not worried about the financial position of the company. According to economists, the total sales will not change, because people will switch to another product. But in the period from September 6 to 23, the share price of the enterprise decreased by 22% and continues to fall.
The cause of the epidemic could be counterfeit products
Max Simon, the founder of the hemp education portal Green Flower Media, believes the yellow press may hinder the development of the cannabis industry in the United States. According to him, some publications disseminate false information in the pursuit of sensation. This causes panic among people. Simon said consumers are afraid of electronic cigarettes and do not want to buy liquid. Green Pearl Organics CEO Daniel Buelna has blamed counterfeit manufacturers for the epidemic. In his opinion, the cause of the disease was supplements used by illegal dealers.
Scientists have suggested that respiratory illness was caused by vitamin E, which was found in several samples. According to doctors, inhaling the vitamin can lead to lipoid pneumonia – a rare disease that occurs when fat molecules get into the lungs. Symptoms of this ailment include chest pain, coughing and shortness of breath.