Kentucky’s hemp acreage could more than double in 2019, with state agriculture officials attributing increased registrations to the new Farm Bill. The state says it has licensed more than 42,000 acres for 2019 hemp production, up 163% from 2018, when Kentucky licensed 16,000 acres. Only 6,700 acres were planted... Read more
Pennsylvania’s planned hemp expansion has turned into a surprise lift on hemp production caps, thanks to the recent Farm Bill and ongoing federal shutdown. Russell Redding, Pennsylvania’s agriculture secretary, said the Keystone State is removing requirements that hemp be grown for research purposes, The (Allentown) Morning Call reported. Pennsylvania... Read more
Flush with cash and looking for a toehold in the United States, Canadian marijuana companies are making big investments in hemp. Consider: Canopy Growth (NYSE: CGC), an Ontario marijuana producer that snagged an investment for 5 billion Canadian dollars ($3.8 billion) from a New York alcohol company, recently announced... Read more
American hemp entrepreneurs had to wait only 48 hours after the signing of the watershed 2018 Farm Bill to start experiencing the downside of offering a product regulated by the U.S. government – specifically the budget impasse between President Trump and Congress that led to federal operations shutting down.... Read more
An Inverell hemp field in Uruguay. (Photo courtesy of Inverell) Uruguay, often recognized as the pioneer in legalized recreational marijuana, is also building a solid foundation to support its hemp industry. “Uruguay is an agricultural country with a clear regulatory framework that offers attractive conditions for large-scale outdoor cultivation... Read more
Nationwide legalization brought elation to the hemp industry, but it also brought anxiety as CBD manufacturers and retailers await guidance from federal health regulators on how the extract can be incorporated into foods, drugs and cosmetics. CBD is – by far – the largest component of the U.S. hemp... Read more
Michigan is opening its CBD market beyond medical marijuana dispensaries after the governor signed a bill enabling the manufacture and use of hemp-derived CBD, the Detroit Free Press reported. The new law reverses a CBD limit enacted in May 2018 by Michigan’s Department of Licensing and Regulatory Affairs and... Read more
In a deal directly related to the U.S. legalization of hemp in December, a firm that specializes in branding consumer-product companies acquired CBD manufacturer Cure Based Development. The sale, an all–stock transaction, is valued at $120 million based on expected revenue of $300 million over the next five years. Level... Read more
With the industry’s new federally legal status, hemp farmers have increased access to workforce-development grants that have long been available to other industries. Colorado has opened up roughly $40,000 for farmers to hire interns for at least 130 hours of work between now and June. All farmers can apply, including... Read more
CBD-rich hempseed is legal now, but it’s also rare, giving plant breeders a huge new market as barriers to national hempseed distribution are removed. The 2018 Farm Bill guarantees interstate commerce for all hemp products, removing requirements that viable hempseeds require approval from the U.S. Drug Enforcement Administration. But... Read more
