A Bright Future For Hemp
Just recently, legislation was passed by the U.S. Senate that would seek to legalize hemp nationwide. At the moment, thanks to the 2014 farm bill that made changes for states and schools to explore industrial hemp, there are now dozens of states that have sought to establish their own industrial hemp markets.
However, because of the confusion regarding the federal scheduling of hemp, it's thrown a wrench into some of the efforts that have tried to get the industrial hemp market underway in various states around the country.
For example, there are multiple reports suggesting that federal authorities have tried to intervene with state efforts to explore their own hemp market, which involves confiscating hemp seed shipments, and more.
There is said to be a competing Farm Bill at the moment, which is required to be merged with the recently passed legislation, before it can more forward for finalization. If fully implemented, some of the changes would include:
- removal of hemp from controlled substances list and nationwide legalization
- allow states to set up their own rules and regulate their own hemp markets
- allow researchers to apply for grants related to hemp research
When we hear that industrial hemp might be legalized, it sounds like there would be some newfound freedom involved, and there is though it's likely less than you'd expect. The truth is that there is still plenty of central planning and intervention involved with hemp-related activity and exchanges.
Along with legalization, authorities are still going to exercise control in determining who can be permitted to grow and how much they might be able to grow etc.
Growing awareness and demand
Over the next few years, it's expected that the hemp market is going to rapidly expand.
It's proven useful for thousands of years, used to make almost anything and everything from clothing, supplements, and housing, to food, body lotions, animal bedding, rope, and much more. And many farmers are hoping that hemp is going to be a promising new cash-crop that will help bring some much-needed new jobs and prosperity to their communities.
Product sales for the hemp market are expected to surpass $1 billion in the next few years and a great deal of the success is reportedly being fueled by the growing demand for a variety of CBD products.
Related Posts:
Hemp: A Valuable Source of Nutrition
https://steemit.com/hemp/@doitvoluntarily/hemp-a-valuable-source-of-nutrition
A Hemp Solution To Plastic
https://steemit.com/hemp/@doitvoluntarily/a-hemp-solution-to-plastic
Hemp Success Being Driven Mostly By CBD
https://steemit.com/cbd/@doitvoluntarily/hemp-success-being-driven-mostly-by-cbd
Growing Hemp For Fuel
https://steemit.com/hemp/@doitvoluntarily/growing-hemp-for-fuel
It's great to hear that progress is being made in this area. The real miracle is that the government has managed to prohibit the cultivation of industrial hemp for so long. Its usefulness in manufacturing, nutrition, and medicine perhaps eclipses that of all other plants known to man.
There is a crypto called The Hemp Coin (THC). I bought it a while ago in '17. Personally this is my only cannabis related investment (industrial or otherwise) and I am glad for getting in. The future is not exactly looking the brightest at the moment but this is long term game supported by real demand.............so in the end the question for me is to trust it or not and after the little buy in of my THC tokens I have never thought of selling them.
Finally! The rest of the world has a different attitude on the entire hemp subject.
Wonderful news Hemp production will revolutionise some many fields. The versatility of the crop is second to none. I really hope other nations follow suite, I really do 💯🐒
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I believe that some Latin countries, where I am from, have a clearer idea of the use and utility of hemp. The United States must be seeing all the benefits that the production of these plants could bring. Such as tows, oils, fuels, medicines and cosmetics. I can see that this is a big step and we must applaud it, without letting our guard down.
Awesome post @doitvoluntarily. Hemp is such a useful product!!!
I don't think it's that bright, but at least we're seeing progress. Some may see this approval as a threat, but campaigns are needed so that they can see the benefits to the community if hemp production is expanded. Very good, my friend!
I believe that if there were a great promotional campaign for hemp, there would be fewer obstacles to its production. When the government understands that the benefits are more than the benefits to legalize some things, then we will move forward and there will be a bright future. Thanks for this interesting post.
Did you hear about the part of the bill that’s going to make funds available for women and people of color to enter the hemp market? Ha ha. At least that’s what High Times has reported. I guess they’re going to give women money to start a hemp company? It’s about time I got married I think.