There are several policy issues that the collective hemp industry needs to prioritize. These three may provide the most impact in terms of supply and demand, and overall hemp prices. The 2018 Farm Bill was only a first step in developing a viable industry from scratch, there is policy work to be done at every level of government. Federal policy affects far more hemp producers than individual state policy.
The first is a supply-side issue, related to hemp production rules. Hemp production in the US is overseen by the USDA, an agency that was tasked with administering the regulations that stem from the 2018 Farm Bill. Key issues within this policy sphere are well defined by the legislation, namely THC content. Though there are a number of elements related to THC testing that the collective industry views as onerous, one issue is extremely time sensitive: The October 31…
04.18.2024
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