USDA to issue hemp farming regulations this fall
When U.S. Congress legalized hemp in the 2018 Farm Bill, it allowed Colorado’s burgeoning hemp industry to thrive even more.
The number of acres registered for hemp cultivation in Colorado jumped from 12,024 in 2017 to 30,950 in 2018, according to the Colorado Department of Agriculture. Data for this year’s acreage is not yet available, but it could exceed 60,000 acres as the number of registered land areas rose from 1,075 in 2018 to about 2,600 so far in 2019.
But as hemp products such as CBD oil grow in popularity, some hemp growers and businesses have had trouble securing financial services from banks.
“It’s sort of an intertangled issue, cannabis as a whole,” said Erica Stark, director of the National Hemp Association. “With hemp being legal, marijuana is still not federally legal, and as you can tell, people are confused.”
Hemp and marijuana both come from the cannabis plant, but hemp is not marijuana. The 2018 Farm Bill removed hemp as a controlled substance at the federal level as long as its THC concentration doesn’t exceed 0.3%.
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The number of acres registered for hemp cultivation in Colorado jumped from 12,024 in 2017 to 30,950 in 2018, according to the Colorado Department of Agriculture. Data for this year’s acreage is not yet available, but it could exceed 60,000 acres as the number of registered land areas rose from 1,075 in 2018 to about 2,600 so far in 2019.
But as hemp products such as CBD oil grow in popularity, some hemp growers and businesses have had trouble securing financial services from banks.
“It’s sort of an intertangled issue, cannabis as a whole,” said Erica Stark, director of the National Hemp Association. “With hemp being legal, marijuana is still not federally legal, and as you can tell, people are confused.”
Hemp and marijuana both come from the cannabis plant, but hemp is not marijuana. The 2018 Farm Bill removed hemp as a controlled substance at the federal level as long as its THC concentration doesn’t exceed 0.3%.
Click Here to read more.