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Balanced Reporting. Trusted Insights.
Sunday, February 28, 2021
The rush to plant hemp for CBD production as well as the legalization of marijuana in many states has created a conflict for those wanting to grow hemp for grain or fiber.
Hemp industry stakeholders are pushing for regulatory certainty as one of the crop's chief byproducts gains in popularity and interest from a curious consumer base.
The industrial hemp industry’s “green rush,” which began in mid-2017, has cooled, at least for those growing hemp for the cannabidiol (CBD) market and many companies that process it.
Many in the hemp industry are worried a new Drug Enforcement Administration rule will make processors vulnerable to enforcement under the Controlled Substances Act, and some are looking at filing a lawsuit to challenge it.
A House spending bill for the Agriculture Department would provide another $1.1 billion for rural broadband in fiscal 2021, a $435-million increase more than Congress provided for this year.
New questions about the future of the hemp industry emerged after one of the largest CBD processors filed for bankruptcy, but advocates remain bullish about the long-term future — if they can get more answers out of FDA.