Michael DeGiglio is the CEO of Village Farms International a company transitioning from produce to cannabis in Canada as well as possibly industrial hemp/CBD (cannabidiol) in the United States. While a shift to cannabis may seem like a money grab to some, and honestly money grabs aren't always a negative, there's logic here. Agriculture is still agriculture. There's a similarity whether the product is tomatoes, cannabis, or even roses.
When asked about rating cannabis vs. tomatoes, he replied, "One word: margins. The same will be true with hemp. Margins for tomatoes are razor thin, in the low single digits as Mexico continues to dominate the market. Recreational marijuana and CBD (non-THC) offer margins potentially ten-times what tomatoes yield."
Read the full interview at realmoney.thestreet.com
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