Despite Economic Uncertainty Due to Global Pandemic, Hemp Entrepreneurs and Farmers Hope Green is in the Investment Forecast
By Steven Hoffman and Heather Collins
Money might not grow on trees, but for many hemp entrepreneurs, farmers and investors, they are placing bets on the strength of the hemp plant to carry them through this uncertain economic time. The financial impact of the novel coronavirus has been felt industry-wide and has many farmers, entrepreneurs and producers asking questions about what’s in store for industrial hemp for the remainder of 2020.
The market for cannabidiol or CBD, which has driven the growth of the modern-day hemp industry, had been depressed going into the coronavirus, due in large part to FDA’s conflicting views on the substance, reported MarketWatch. Mainstream retailers have been hesitant to offer ingestible, hemp-based CBD products due to FDA’s position – announced in November 2019 – that CBD cannot be added to conventional food or marketed as a dietary supplement.
However, writes Josh Long in Natural Products Insider, “That’s expected to change if FDA issues regulations authorizing CBD to be sold in food, beverages and supplements.” In fact, in a February 2020 speech, FDA Commissioner Stephen Hahn admitted, “People are using these [CBD products]. We’re not going to be able to say you can’t use these products. It’s a fool’s game to try to even approach that.”
Natural Products Insider also reported that BDS Analytics, a market research firm, estimates the market for cannabinoid-infused food and beverage products will reach $5.9 billion by 2024 across all channels, including cannabis dispensaries. That’s up from $906 million in projected sales in 2019, with $560 million, or about 62%, coming from dispensaries, Jessica Lukas, SVP of Commercial Development with BDS Analytics, told the Insider.
The organizers of NoCo Hemp Expo’s Experience Hemp SUMMER SOLSTICE Virtual Conference and Trade Show, June 16-19, 2020, will be dedicating a 90-minute, live webcast “Supersession” on the financial future of the hemp industry. The ‘Investor Outlook’ discussion will feature accredited investment professionals, financial analysts, and business leaders dedicated to the industrial hemp market. The panel will share their perspectives on the current hemp investment landscape, specifically in light of the recent coronavirus pandemic.
Harvard, MIT to Study Whole-Plant vs. Single-extract CBD Under $9 Million Grant
By McLean Hospital / Harvard Medical School
Actor Kristen Bell Launches CBD Skin Care Line
By Yahoo Life
By Natural Products Insider
The Hidden Origin Story of the CBD Craze
By The New York Times
Ohio Crime Labs Now Able to Differentiate Hemp from Marijuana
By U.S. News & World Report
The Labeling Paradox: Navigating Between Hemp, Hemp Extract and CBD Products
By The National Law Review
FOOD, BEVERAGE & SUPPLEMENTS
Evo Hemp and the Great Hemp Revolution
By Green Flower
New Online Platform Seeks to Connect Verified Hemp Brands and Retailers
By Higher Ed Hemp Tours
FASHION, FIBER AND CONSTRUCTION
Denim Manufacturer AGI Denim Embracing Hemp Fiber
By The Sourcing Journal
HempFlax Buys German Insulation Maker
Panda Biotech Donating Hemp Fiber Seeds in Texas
By Textile World
FARMING AND AGRICULTURE
Seneca Nation Enters Hemp Growing Industry with USDA Approval
By The Olean Times Herald
Farmer Survey: Hemp Flower Production Costs Not Sustainable, but Hempseed Outlook Attractive
By Hemp Industry Daily
Front-loaded Henry’s Hemp Harvester Machinery Released for 2020 Season
By Growing Produce
European Hemp Association: No Flower, No Hemp Industry
By Food Navigator
Canada Industrial Hemp Leader BC Hemp Announces Plans for Ethanol Refinery, Greenhouse Complex
By The Prince George Citizen
Order Your Copy of Doug Fine’s New Book, American Hemp Farmer
American Hemp Farmer, the sixth book from author Doug Fine, follows the rigors and pleasures of an entire hemp season from soil preparation and genetics acquisition through harvest and regenerative marketing. It’s immersive. It’s wildly funny. The follow up to Doug Fine’s bestselling Hemp Bound, American Hemp Farmer pulls no punches, and because it is written by an actual hemp farmer and entrepreneur, it tells you what you need to know if you want to join the hemp renaissance.
Order American Hemp Farmer Today
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Podcast: Chris Boucher – In the Beginning
In this episode, we discuss the beginning of the Hemp Industries Association. Before the HIA was established in 1994, there was the True Hemp Industry Alliance (THIA), first established in 1992, who called the meeting where HIA name was created. THIA created a certification program called the True Hemp seal certification – to test and confirm products being labeled as hemp were 100% hemp, and preventing unscrupulous players from mislabeling products. This group pooled together funds to import millions of tons of hemp textiles into the USA.
Like any new movement, there were competing groups, and trying to gather everyone on one platform was not easy. Chris Boucher discusses some of the issues in the “beginning” of hemp’s reformation – the difficulty confirming that imported Chinese hemp was truly hemp and not mixed with cotton or other fibers. It wasn’t without obstacles as competing certifications were created, debate raged on using the hemp plant leaf versus those that didn’t want the stigma attached, and police threatened arrest for serving hemp seeds at festivals. For the past 3 decades, Chris has fought to raise awareness of hemp and its benefits. His stories provide insight into where the industry started and some of the battles fought along the way.
About Colorado Hemp Company
The Colorado Hemp Company, the producer of the 7th Annual NoCo Hemp Expo (NoCo7), is a leading organization for the advancement and advocacy of hemp farming, processing, production, innovation, education, and legalization in the USA. The entire team is committed to researching and developing alternatives so that hemp can once again thrive and help individuals and communities throughout America and around the globe. The 7th Annual NoCo Hemp Expo will take place August 6-8, 2020, at the National Western Complex in Denver, CO.