Hemp farming has been banned in the United States for eighty years, but that could soon change. This is due to a new 2018 Hemp Farming bill that could change many things. It could lift the ban on farming hemp, or it will further prohibit it.
The amendment is included in the 2018 Farm Bill and would fully legalize the production of hemp if passed. Due to the fact it’s similar to marijuana, hemp is actually currently considered to be a controlled substance.
Understanding the Hemp Farming Amendment
While the amendment is included in the Senate's version of 2018 Farm Bill, it does not appear in the House Farm Bill. As such, it is imperative that both sides meet to correct this and come to an agreement. Currently, the U.S coalition of hemp companies that are working to legalize the farming of hemp is hopeful it will pass. This would be great news for farmers and indeed consumers alike.
A boom in the market
Currently, America imports more hemp than any other country around the world. This is at least partly due to the current legislation banning the farming of it. Typically, it’s mostly used for clothing and food, but this is due to the level of supplies. If the ban was lifted, then there are a variety of other uses that could be explored.
This would no doubt make a demand for the product soar higher than ever before, and it could even be a green-friendly alternative to plastic. It’s definitely going to help farmers in the midwest who are currently facing the squeeze from the trade war with China. Soybean prices continue to drop making it difficult for these businesses to make a fair profit.
However, it’s not just about boosting profits directly. Right now, there’s a serious level of confusion about what hemp is and what it’s used for. Most people associate it with marijuana, and this is due to the fact researchers weren’t able to tell the difference between the genetically similar substances eight years ago.
Today, technology and science have evolved so researchers can see substantial differences. Legalizing farming of hemp would send a clear message to consumers and trigger even more increases in demand. Ultimately, farmers in the United States stand to gain a lot from the new hemp farm bill.
How will it help hemp users?
Ultimately, this bill will make supplies of hemp in the US grow to fantastic fresh levels and may even cause prices on hemp products to drop as a result. So, while farmers will see increases in profits consumers will be able to get the hemp items they want for a lot less from more resources and stores. It will have an impact on every product that includes hemp as an ingredient which ranges in the high hundreds of thousands.
The Future of Hemp Farming
So what happens now? Farmers and consumers are both left waiting for the house and senate to meet, combine two versions of their 2018 Farming Bill, with the Senate fighting for the legislation on hemp to remain part of the deal. This is expected to occur before the end of the year.
Right now you can learn more about what the team at LENCURA™ is doing to move forward progress in this industry. Also, check out all the CANNAVERA™ products, and see how we can help with pain management and skin care.