The Future of Hemp is Bright But is the Industry Ready
By Beau Whitney, Whitney Economics
While hemp has faced significant challenges over the last several years, opportunities are on the horizon.
Despite low acreage now, the future of hemp is bright
In 2019, there were close to 525,000 acres licensed for hemp cultivation. Acres licensed for hemp were below 70,000 in 2022, which is the lowest acreage since the passage of 2018 farm bill. There are questions as to whether the current number of acres can sustain the growth and development of the hemp fiber and grain industries. Huge opportunities exist for hemp fiber in the construction (hempcrete), plastics, automotive, paper and textile industries. At the same time, even larger opportunities for hemp grain animal feed are being stymied by FDA rules. Despite these challenges, the future of hemp fiber and grain is bright.
Congress and FDA resistance to hemp is hurting other industries
Lack of federal regulatory clarity is consistently cited as one of the top issues limiting hemp investment, opportunity and growth. This impact is being felt in other transitional industries as well, like animal feeds, fibers and grains. The slow roll of federal guidance is forcing states to intervene with sometimes devastating consequences to small business operators, manufacturers and farmers.
Hemp News Spotlight
USDA Doubles the Number of Hemp Professionals on Federal Trade Advisory Committees
Marijuana Moment
Biden Administration Calls on DEA to move Marijuana to Schedule 3
Green Market Report
Fourth-Generation Farmer finds Hemp a Regenerative Crop
Cannabis & Tech Today
Whitefield Global Processing Plant opens in Rexburg
HJ News
Industrial Hemp Market – The Ultimate List of Business Statistics for 2023
Benzinga
CSU Researchers turn Hemp Crop Residue into Cellulose Nanocrystals for Biomed Use
Colorado State University
Alabama A&M University grows and researches Industrial Hemp for Clothes & Buildings
Fox News
A Million Acres and Growing: Certifying a Holistic Approach to Regenerative Agriculture
Triple Pundit
DeSantis makes ‘Idiotic’ Comments about Colorado’s illicit Marijuana Market
Marijuana Moment
Innovative Finance for Regenerative Agriculture Through Partnerships
Lancaster Farming
Hempitecture – Innovations in Stride
WeFunder
Healthy Fields, Healthy Foods
AgUpdate.com
EVENTS
11th Annual International Hemp Building Symposium
October 10-11, 2023. Amsterdam, Netherlands
CBD Journey & CannaCon 2023
November 2-3, 2023. Tokyo, Japan
Asia International Hemp Expo & Forum 2023
November 22-25, 2023. Bangkok, Thailand
HIACON 2023 – Going Mainstream
November 28-29, Austin, TX
MJBIZCON 2023
November 28-December 1, Las Vegas
Jack Herer Cup 2023
November 29, Las Vegas
10th Annual NoCo Hemp Expo & 1st Innovate Earth Symposium
March 20-22, 2024, The Broadmoor Resort, Colorado Springs, CO
Experience Hemp Prague and the 21st Annual EIHA Conference
June 5-7, 2024, Prague, Czech Republic – Save The Date
Add your event to Hemp Events, a free listing service for legitimate hemp industry events. Visit www.HempEvents.org.
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The post Newsletter – August 31, 2023 first appeared on Let’s Talk Hemp.
