Despite troubling economic conditions, 2020’s hemp crop continues to grow

Despite troubling economic conditions, 2020’s hemp crop continues to grow

CBD fans look to support Black-owned businesses Reading Despite troubling economic conditions, 2020’s hemp crop continues to grow 3 minutes Next New FDA report sheds light on CBD industry, leaves the future open-ended

Economic realities in the U.S. are drastic and troubling, but that doesn’t mean there are no silver linings in the offing.

Media reports indicate that even as the country faces record unemployment and a gathering concern over the future, hemp agriculture has continued to offer a possible avenue of relief for many in heavily affected areas.

All across the United States, different reactions to industrial hemp growing have changed rural and urban economies deeply effected by the coronavirus pandemic.

Hemp can be turned into CBD oil and its related products, which many people love to use for their chronic pain, inflammation, insomnia and anxiety.

Hemp is also environmentally-friendly and work well in sturdy textiles.

Native Communities in Wisconsin

According to the Green Bay Press Gazette, local Native American tribes may lose over $20 billion in revenue they would usually count on from casino visits.

The tribes, including the Oneida and Menominee nations, are instead looking to hemp cultivation.

Marcus Grignon, a Menominee Nation Tribe member, told the Green Bay Press Gazette that the tribe attempted growing industrial hemp last year and the result was a bountiful harvest, but it “went hot,” which means it resulted in too high of a THC content.

THC is the active ingredient in marijuana which causes its users to become intoxicated.

According to the Press Gazette, tribes are largely interested in the processing of hemp into CBD oil and other products in addition to growing them.

Ohio, New Jersey turn to hemp

Elsewhere in the country, industrial hemp may offer a way out of the economic hardships faced by communities.

According to local ABC affiliate ABC 5, Ohio is currently negotiating the troubles and quandaries of its first industrial hemp harvest even as farmers and entrepreneurs hope to see a boon from the crops.

Some farmers use flags and other markers to differentiate their strains of hemp growing in their fields to make sure they reach the correct end-products.

Meanwhile, the New Jersey Law Journal reports that the market for CBD and hemp may reach as high as $11 billion by 2024, marking a stark rise from 2018 when the crop was made legal at the federal level.

Keep an eye on the Nothing But Hemp blog for the latest on industrial hemp cultivation and CBD industry!