Charlotte’s Web Holdings, the Boulder, Colorado-based maker of whole-plant hemp health supplements, reported quarterly revenues of $21.7 million for the three months ended March 31, up almost 66% from the corresponding period last year ($13.1 million). The company reported net income of $2.3 million for the period, compared with... Read more
A provision to help hemp farmers get crop insurance has been added to a federal disaster-relief bill. A bill that passed in the Senate on Thursday includes an amendment to ensure hemp farmers access to crop insurance prior to the 2020 growing season. The provision states that the Federal Crop... Read more
(Editor’s note: This is the first in an occasional series on the complex hemp market in California. Today, a look at why many counties in the cannabis-friendly state are saying no to hemp, and how some hemp companies are finding opportunity despite the challenges.) The nation’s largest agricultural state... Read more
Lawmakers in the nation’s second-largest state have agreed to allow hemp cultivation, putting Texas one signature away from joining at least 42 other states to allow commercial hemp farming. The Texas measure, which passed unanimously in the state House and Senate, would not only legalize CBD in the state but... Read more
The hemp industry continues to be a top investment target for well-capitalized Canadian cannabis companies. But that doesn’t mean they’re all looking to grow the plant. Organigram CEO Greg Engel, whose New Brunswick-based company began trading this week on the Nasdaq, says CBD offers a big opportunity to enter... Read more
A London skin-care company is the latest acquisition for Canada’s Canopy Growth, a marijuana producer that is deploying capital around the globe to gain traction for its hemp-derived CBD products. Canopy announced Wednesday it spent 43 million pounds ($54 million) to purchase This Works, which makes skin-care products and a sleep-aid... Read more
Canada’s top health agency plans to launch public consultations on a proposed approach for regulating natural health products containing cannabis, Hemp Industry Daily has learned. Any subsequent regulations by Health Canada could have major implications for Canada’s CBD industry, which currently can be accessed only with a doctor’s prescription... Read more
Village Farms International, a prominent greenhouse vegetable producer from Canada, is entering the Colorado hemp market with a $5 million joint venture to start growing CBD-rich hemp in the Centennial State. To accomplish the move, Village Farms entered a joint venture with Arkansas Valley Hemp in southern Colorado. Under... Read more
The hemp industry cheered when the plant was legalized last year. But the promise of hassle-free commerce from hemp’s most valuable product – the cannabinoids in its flowers – has remained elusive. That’s because the U.S. Food and Drug Administration waited less than 24 hours after hemp was legalized... Read more
Banks may be hesitant to serve hemp companies because of confusion about marijuana laws, the top U.S. bank insurer says. But that doesn’t mean financial institutions should require a new law guaranteeing hemp banking, said Jelena McWilliams, head of the Federal Deposit Insurance Corp. (FDIC), which insures deposits. McWilliams... Read more
