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CBD, you know it, you want it, and you love it. The CBD market is growing at a massive rate as more and more countries autorise its sale and bigger and bigger outlets are beginning to stock it.
We are seeing CBD popping up in all sorts of products, you can vape it, drink it, and even feed it to your dog.
This is great for those of us looking to enjoy the supposed benefits of CBD, but it’s also proving to be a great boom to the agricultural industry.
Blue Forest Farms based in Colorado, USA, have recently announced that they have dedicated 150 acres of land to growing hemp, and they have plans to increase this to 1000 acres!
In December 2018, the Trump administration signed the Farm Bill into law. This bill changed the regulation around hemp, legalising it and removing it from the governments’ controlled drug category.
This has contributed to the surge of CBD products on the market.
Hemp is now fully legal to grow in the USA providing that the amount of THC (the psychoactive chemical found in cannabis) falls under a certain threshold.
High-CBD strains of hemp are fully sanctioned and they are used to manufacture everything from CBD e-liquid to full-spectrum hemp oil.
Hemp is a particularly appealing crop for farmers because it is a high-return crop. When you plant hemp you don’t have to use pesticides or artificial fertilisers thanks to the plant’s hearty constitution.
On top of this, hemp is a rapidly-growing plant, so there is a high turn around on it. Finally, you don’t need to crop rotate hemp, it doesn’t drain the soil of nutrients as much as some other crops.
The market price of hemp shot up after the Farm Bill was written into law, and it will remain high as long as the supply doesn’t meet the massive demand for CBD.
Of course, on the other hand, if too many farmers get into the market we could see the price drop rapidly.
A major concern facing US farmers is satisfying the demand as farming hemp is an expensive process.
Hemp can be used for much more than just CBD. It is a veritable wonder crop that can be manufactured into everything from clothing to food.
Due to its sustainable nature it is being seen as a good replacement for a whole range of plastics and other unsustainable materials. Hemp plastic bags are being rolled out in many countries across the world.
They are fully biodegradable and some kinds are made from reclaimed plastics. This means hemp plastic has the potential to reduce the amount of plastic pollution in the ocean.
More uses for hemp are being developed as time goes on. Hemp can be used to create building blocks for houses, protein powder for athletes, and even diesel to fuel vehicles sustainably!
Hemp and CBD will grow hand in hand, and eventually we can expect to see hemp overtake the CBD industry and become one of the most important, and common crops on the planet!