Why is the future of industrial hemp so exciting?
Many people believe that industrial hemp cultivation will radically transform our society. From textiles, to plastics, to medicine, and beyond, the potential applications of this one plant seem limitless.
Also, changing existing production models for many consumer and industrial products to a hemp-based production model would lead to a major reduction of carbon emissions and pollution, aiding in the fight against climate change.
Because the cultivation of hemp had been outlawed in most places until recently, the vast potential applications for this material also represent immense opportunities for innovators and early-movers to build a successful business.
What is the Farm Bill?
Passed in 2018, the “Farm Bill” effectively legalized hemp within the United States after it had been outlawed for over half a century. Until recently, the U.S. government did not distinguish between “marijuana” and “hemp” — which are, after all, the same plant — but with the new designation, any plant with less than 0.3% THC is deemed “hemp” and is no longer prohibited.
Although it is no longer illegal, the path to becoming a cultivator of industrial hemp is not a very accessible one. Currently the U.S.D.A. has partnered with several state agricultural programs to approve several “pilot programs” where licenses to grow hemp are awarded to businesses. The process to acquire a license may vary from state to state, but it is nothing like starting a small farm to grow tomatoes and pumpkins.
What is this website all about?
Ganjapreneur is a resource for cannabis and hemp professionals to keep up on the latest industry news and developments in the world of business, policy, and science. Our mission is to work toward a cannabis industry that is ethical, inclusive, and sustainable.
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