The business of hemp booming again in the United States, what is the story? There is so much talk everywhere about hemp. From the news to social media to television talk shows, it has become the hot topic. I decided to do a little research on my own due mainly to all the buzz around the topic. So let’s talk about it. 1) Hemp was booming then it wasn’t, 2) what’s happening now, and 3) what is the future?
Hemp Was Booming Then It Wasn’t
Believe it or not, there was a time when hemp was a very large and important part of the economy in the United States. Did you know the first two drafts of the Declaration of Independence were penned on hemp paper. And did you know the 1914 $10 bill was printed on hemp paper with a scene of hemp farmers? Click on” Industrial Hemp Production” at the end of this article for more information on “The Revolution America Needs to Prosper”.
In the 1600’s there were “Must Grow” laws. If you were a farmer and wouldn’t grow hemp you were either jailed or kicked out of the country. (true or false). Yes it’s true.
At the time, what is now the USA was still colonies. The colonies produced sacks and paper, canvas and cloth, as well as ropes mainly used for riggings on the ships among many, many other things.
But as years went by the use of hemp as a fiber crop sustained injuring blows by politics. The federal government passed the Marijuana Tax Act in 1937. Simply put American farmers were eventually prohibited from growing a hemp crop. Read here to get more information…
Imagine how shocked I was to learn that even though U.S. farmers were not allowed to grow hemp, it was legal to purchase it from other countries. So American companies were forced to pay other countries to import hemp from them.
Of course this sent revenue out of the country, while U.S. farmers were just left out of the equation.
What’s Happening Now
In 2014 the U.S. Farm Bill authorized states to start pilot programs. This year the U.S. Senate passed the Agriculture Improvement Act of 2018 (Farm Bill), and it includes the Hemp Farming Act of 2018.
So now, after being banned from farmers in the United States for more than 70 years, hemp has come back strong. Farmers are growing hemp plants legally again. It has already become a multi-billion dollar industry and is growing in leaps and bounds.
People are waking up. Brainwashing used to be easy but not anymore with billions of people sharing information instantly. You can no longer convince the masses that hemp is evil and too harmful to use. All of the information, pro and con, is at their fingertips.
As with anything, intelligent people like having the choice to form their own conclusions. They’re getting more information to clear up the confusion between industrial hemp and marijuana. They are learning about the visual similarities and the differences in a large variety of plants.
So far there are many positive things happening that will boost the U.S. economy, here are a few:
There are hemp related businesses popping up all across the country.
Jobs – Many different skilled and knowledgeable people are being recruited for the new businesses.
Jefferson University held a ‘Shark Tank’ challenge for marijuana and hemp start-ups.
New York’s Gov. Andrew M. Cuomo directed the state’s Department of Financial Services (DFS) to support the development of medical marijuana and industrial hemp businesses.
United States farmers are beginning to enjoy a comeback of the great industrial Hemp industry.
There is now the Great Lakes Cannabis Chamber of Commerce in Michigan.
Hemp Industries Association (HIA) represents more than one-thousand farmers and businesses.
COHIA (Colorado Hemp Industries Association) has been organized.
People are already using hemp in CBD products for health issues and nutrition, no prescription needed.
Retailers are desperately searching for and making new shelf space for a wide variety of products.
One Colorado company alone reported nearly $18 million revenue just during the third quarter of 2018.
CVSI stock (OTCMKTS:CVSI) has risen more than 1,000% just since April.
The hemp industries are primed to once again become a major global economic force.
And the list goes on and on…
Future Predictions For Hemp In The United States
Did you know that industrial hemp will be grown again in the United States for the manufacture of over 25,000 products? That includes nutritional supplements, foods and beverages, cosmetics and personal care products, fabrics and textiles, yarns, paper, fuel and installation materials.
Industrial hemp business involves much more than cultivating the crop. It could create a whole new industrial revolution with hundreds of jobs for people, economic security for farmers, and by-products that could change almost every industry on the planet today.
Petroleum products, plastics, oil, coal, wood, cotton, soy, sugar cane, food and even concrete, could all be replaced with products made from industrial hemp. Currently Americans are forced to import many products that will soon be available at home. Think of the revenue saved and jobs created.
To date thirty-one (31) states plus Washington, D.C., have legalized medical marijuana. Even though it is still federally illegal, it is unlikely anyone will be arrested.
In 2019 we will see $millions put on the table by state governments to promote the hemp industry. Gradually cannabis will be allowed to grow nationwide as Industrial hemp pilot programs are phased out.
According to the predictions of Whole Foods Market, hemp products, already incredibly popular, will be a top 10 food trend in 2019. Hemp hearts, seeds and oils are already being used in food and body care products. They’re in anything from dried pastas to waffle mix. Now there is a new interest in potential benefits from other parts of the hemp plant. There are many other brands now planning to explore this lucrative cannabis business.
Per Senate Majority Leader Mitch McConnell, “I don’t want to overstate this—I don’t know if it’s going to be the next tobacco or not—but I do think it has a lot of potential,” he said. “And as all of you already know, in terms of food and medicine but also car parts. I mean, it’s an extraordinary plant.”
United States Medical Marijuana Market Forecast 2018-2022: “Medical cannabis revenue will overtake recreational revenue in the next 4 years” says Research And Markets, the world’s largest market research store.
Executives and major investors from other countries have communicated their interest in the enormous potential of the U.S. hemp industry.
Scheduled Events 2019
Cannabis Conference – April 1-3, 2019 – Westgate Las Vegas Resort and Casino Registration now open.
2019 North American Cannabis Summit-Call for Proposals – January 28-30, 2019, at the Westin Bonaventure Hotel in downtown Los Angeles, California.
National Cannabis Festival – April 20th, 2019 at the RFK Stadium in Washington DC, United States Of America. This event showcases products like organic products, hemp clothes and accessories etc. in the Consumer & Carnivals industry.
The Hemp & Cannabis Fair 2019 in Ventura, CA – Feb 16-17, 2019 Ventura County Fairgrounds
Utah’s Cannabis Business Conference and Expo – May 2019 (The exact date and location is not yet posted)
In closing it appears that American citizens might have been misinformed for several decades about the pros and cons of hemp. But despite business as usual in Washington, the states of the union have seen the light. They are pushing forward to bring back the legitimate hemp industry that fueled the American economy many decades ago.
Industrial Hemp Production
The Revolution America Needs to Prosper
I hope this article is helpful to you. If so, please share it with others.
Until next time, please remember to encourage someone else today.