Updated: Dec 13, 2018
The Farm Bill is passed by the Senate and has moved to the House floor for a vote. Once passed by the House, it will proceed to the POTUS for his signature. What to expect for 2019 and a brief history of hemp in America follows.
In 1970, lead by the US, the Controlled Substances Act classified hemp as marijuana making it illegal to grow in the U.S. Resulting in a massive transfer of hemp development to foreign countries not obligated to the CSA.
In 2014, Under the Obama Administration, the 2013 Farm Bill defined industrial hemp as distinct from marijuana. State agriculture departments began unique hemp research and commercialization programs, allowing licensed farmers to grow hemp for the first time since the 1970's controlled substance Act. Industrial hemp is considered any part of the cannabis plant with no more than 0.3 percent of THC on a dry weight basis.
In 2017 farmers plotted > than 25,000 acres of hemp in the USA resulting in a 163% increase over 2016. Thirty nine states have some form of legislation to allow limited hemp production. About 70% of the hemp grown in the U.S. supports CBD. CBD market projected to grow 40 by 2022.
0n Dec. 12th, 2018, The Farm Bill is passed by the Senate and moved to the House floor for a vote. Once passed by the Congress, it will proceed to the POTUS for his signature.
The Year of Hemp: 2019!
Expect new national standards for applications, operations, monitoring and controls (FDA.)
Exciting times ahead for American hemp farmers, processors, manufacturers and distributors.
How many acres does America have of hemp? Want to join the hemp markets today?
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Stay hempy, my friends!