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Creso increases supply of hemp protein to large Slovakian bakery
3 minute read
Leading supplier of therapeutic grade nutraceutical cannabis and hemp products, Creso Pharma (ASX:CPH), has delivered its second shipment of hemp protein to one of Slovakia’s largest bakeries, Pekarne Liptovsky Hradok,s.r.o. (PLH).
The 700 kilogram shipment followed the delivery of 500 kilograms in mid-August, and has effectively created an additional revenue stream for the vertically integrated group.
CPH’s Hemp Industries division is looking to forge a long-term relationship with PLH, resulting in increased shipments of hemp protein and other hemp seed based products.
However, it is early stages in this relationship, so investors should seek professional financial advice for further information if considering this stock for their portfolio.
Having been operating nearly 80 years and traditionally involved in the production of wafers, biscuits, vanilla and cinnamic sugar, PLH has been transformed into a company that is increasingly focused on producing products that assist in treating health conditions such as diabetes, celiac disease and lactose intolerance.
Consequently, a relationship between the broader Creso Pharma group and PLH would be a good fit given the former’s focus on developing therapeutic grade nutraceutical products for humans and animals.
PLH an established player with access to wide ranging markets
Importantly, PLH has access to a broad range of markets, and it currently exports products into Yemen, Poland, Hungary, Romania and the Czech Republic.
Hemp seeds and products made from hemp seeds are experiencing an increase in demand in the food, food supplement, health and sports markets due to their high content of amino acids, omega acids, protein and other beneficial substances. Due to the high nutrition content they are now being characterised as a super-food.
In response to this development, CPH’s executive chairman, Boaz Wachtel said, “We are very pleased with the market reception of Hemp Industries’ new protein product line and it is important to note that the market potential for hemp protein sales in the European Union is significant”.
You can read more from Wachtel in a recent interview conducted by the world’s number one hemp magazine, Hemp Today.
Hemp protein provides additional revenue stream
Wachtel highlighted the fact that the current revenues generated by Hemp Industries’ CBD product line, CBDium is now augmented by additional revenues from the sale of the new hemp protein product line.
This news comes only a fortnight after CPH negotiated an important Letter of Intent (LOI) with Canadian medical cannabis group CanniMed which included the appointment of CPH as preferred distributor in the European Union for all CanniMed medical cannabis products.
Consequently, it is clear that the company is establishing a strong presence in Europe, and the relationship with PLH strengthens its position in the region.