Cryptic crossword clue
Lotion powder from California, a lucrative source 8

The most common and most likely answer to this crossword clue is the 8 letter word CALAMINE

I've seen this crossword clue in Financial Times
C
A
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M
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Buddy explains!

The straight part
We know that "Lotion powder" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case lotion powder = calamine.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does CALAMINE mean?

CALAMINE noun
  1. A pale pink powdered form of zinc oxide used in skin lotions.
  2. The zinc silicate mineral hemimorphite.
CALAMINE verb
  1. To coat or treat with calamine.

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