If you’ve been reading our blog lately, you know that we’ve been very excited about the prospect of hemp becoming legal as outlined in the 2018 farm bill. Well, that prospect has become reality as President Trump signed the farm bill into law on December 20th, 2018.
While the bill is important across the agriculture industry, we’re most excited about the hemp provision and that for the first time since it was banned in 1937, this versatile crop will be grown domestically. Why do we care so much? Read on!
As we mentioned in previous articles, hemp legalization has major financial implications for the hemp market. From CBD oil to hemp foodstuffs to hemp clothing, we expect to see the hemp market grow as more entrepreneurs will have access to raw, industrial hemp that will be utilized by a market hungry for hemp extracts, industrial fibers, and more. Who knows, maybe we’ll even see that hemp car championed by Henry Ford. Then there are the Wall Street implications as established hemp stocks will find more willing investors, not to mention the new hemp IPOs we can expect as smaller startups expand this newly opened market.
December 20th, 2018: A good day for all of us and a great day for hemp!
What do you think? Are you thinking of investing in hemp? Farming it? Processing it? We’d love to hear your thoughts, so why don’t you join our forum and discuss it with our community of Cannabis (and hemp) professionals.
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About the Author
Chris DeWildt is a graduate of Grand Valley State University and Western Kentucky University. He worked in education and publishing for ten years before joining the team at Growers Network.