Farmers Express Concerns About Newly Released Hemp Regulations
Nov 4, 2019
Players in the hemp and cannabidiol (CBD) industry could finally rest easy after the U.S. Department of Agriculture (USDA) finally released its proposed regulations on the CBD industry last week. The Farm Bill passed in December 2018 made the cultivation of industrial hemp legal. Still, the industry remained unregulated, and institutions that offered vital services such as insurance companies and banks avoided working with hemp farmers. Last week’s news ought to have been a reprieve, finally allowing them access to essential services.
However, farmers have come out saying that the long-awaited final interim rule is not the savior they thought it would be. According to Phoenix-based hemp farmer Adam Harris of Vesica Ventures, the regulations will have a significant impact on the entire industry, and they may, in fact, change the industry forever. Federal law requires any hemp grown for medical cannabis to have less than 0.3% THC content, and only by licensed farmers. The new rules cover where hemp can be produced, THC regulations, and the disposal protocols for hemp that doesn’t comply with…
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