Business

2018 Farm Bill’s lines for industrial hemp bring changes

The 2018 Farm Bill includes provisions that are set to overturn the U.S. agricultural industry, but it has the most merits for hemp. The U.S. Senate and House approved the bill while keeping the hemp provisions in tow. Though of the same cannabis genus, marijuana and hemp are very different in composition. The reason why hemp was passed is that it does not get users high.

The 2018 Farm Bill includes provisions that are set to overturn the U.S. agricultural industry, but it has the most merits for hemp. The U.S. Senate and House approved the bill while keeping the hemp provisions in tow. The signature of the president is all that is left to put the bill into law. Many are expecting it to be signed before the year ends, thus making industrial hemp federally legal by 2019.

Hemp cultivation is legal in America

The prohibition in cultivating hemp in America is almost over, but that doesn’t mean producers and farmers can grow the plant immediately once the president signs it.

The Fram Bill will regulate the growing of hemp says Jonathan Miller, general counsel for the U.S. Hemp Roundtable. He adds that without regulation, farmers could be growing marijuana and then say that it is hemp. Though of the same family, marijuana and hemp are very different in composition. The reason why hemp was passed is that it does not get users high.

Miller adds that if marijuana becomes federally legal, then there wouldn’t be a need for regulation anymore

Various states have launched hemp pilot programs that support the industry and farmers who are hoping to dive into it. Aside from this, states will require farmers to get licenses to grow first. Of course, many farmers are supportive of the idea as it will help them get a grasp of the industry as well.

Wyoming is considering to allow the growing of hemp as it could give their agriculture industry a boost. (Photo by Staplegunther via Wikimedia Commons. CC BY-SA 3.0.)

A new driver in the local economy

Although hemp is easy to cultivate, it still thrives better in certain conditions. Many states could use it as a new driving force behind their local agriculture industry and one state considering the change in Wyoming.

As the Farm Bill breaks the leash on hemp, more jobs could be opened in the state.

That would be a big boom for Wyoming not only for the growth for the farmers but the extracting also in the testing and in the distribution and sales so there is a lot of economic opportunity for Wyoming.” Said Rick Trojan, a Colorado-based hemp farmer.

If Wyoming decides to put hemp at the center of agriculture, it will be opening up opportunities for more people thus revamping the local economy.

Groups for hemp rise in states

Big changes are happening in the United States in anticipation of the Farm Bill taking into effect. In Bitterroot Valley, Montana, hemp growers, and interested parties have formed the first hemp-centered cooperative in the state. The group was set to begin sales of stock to the public and select its first board of directors this week, at the Ravalli County Economic Development Authority building on Old Corvallis Road.

Farmers should begin readying themselves and their lands for massive hemp production as demand is certainly going to get a boost soon. (Source)

The hemp industry is already booming in Montana. That’s because the plant has been legal since 2017 when the state created its hemp pilot program. Last year, 14 producers used about 525 acres of land for industrial hemp. The number surged to 25,000 acres this year after 56 farmers obtained the proper licenses. Because of the boom, the state was able to import 600,000 pounds of seed from Canada.

By next year, the state is expecting more farmers to join the growing hemp family. Everyone is welcome to jump in now that the demand for the plant will be strong across the U.S.

The hemp industry is going to get a massive boost in the U.S. by 2019 because of the Farm Bill. Many are optimistic of hemp’s future in the nation as regulation is keeping the potential issues at bay. For now, farmers should begin readying themselves and their lands for massive hemp production as demand is certainly going to get a boost soon.

(Featured Image by Maja Dumat via Flickr. CC BY 2.0.)

Olivia McCall

Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.

Recent Posts

Women Represent 61% of Home Cannabis Growers in the U.S.

A survey found that women comprise 61% of home cannabis growers, marking a diversion from…

3 days ago

Denmark Proposes Making Its Medical Cannabis Program Permanent

Denmark plans to make its pilot medical cannabis program permanent following its success in treating…

4 days ago

Polish Lawmakers Petition Donald Tusk for Cannabis Decriminalization

Polish lawmakers have submitted a non-binding petition to Prime Minister Donald Tusk, urging cannabis decriminalization…

2 weeks ago

The UK Medical Cannabis Market: Growth, Diversification, and Opportunities

The UK medical cannabis market has rapidly grown since legalization in 2018, with private actors…

2 weeks ago

Alcohol & Cannabis: 60% of Cannabis Users Say It Helps Them Drink Less

A new study involving over 23,000 participants in New Zealand found that 60% of people…

2 weeks ago

French Interior and Justice Ministers Announce Measures to Combat Organized Crime

The French Ministers of the Interior and Justice announced a comprehensive plan to tackle organized…

2 weeks ago