August 2019 - HempWire

ThursdayAug 29, 2019 4:00 pm

High THC Levels Cost Hawaii Hemp Farmers their Crop

Officials in Hawaii have revealed that nearly half of all the industrial hemp that was grown in the state last year couldn’t be used because the plants had higher than permitted levels of THC. The Hawaii Department of Agriculture said that 18 crops had to be destroyed because they were found to have elevated THC levels while four crops which tested slightly above the 0.3 THC limit were cleared to be used by processors. This high rate of crop rejection highlights the challenges that hemp farmers have to contend with as they grow the plants at this time when hemp…

ThursdayAug 29, 2019 11:45 am

HTC Extraction Systems (TSX.V: HTC) Poised for Growth in Biomass Processing After Farm Bill Legalizes Hemp

The hemp-derived CBD market is projected to reach $22 billion by 2022 The company recently entered into a tolling agreement to process five million kilograms of hemp biomass HTC has entered into an agreement with Canaccord Genuity Corp. for a C$15 million bought deal private placement With the passage of the Agriculture Improvement Act of 2018 (commonly known as the 2018 farm bill), hemp production and distribution in the United States became permissible under federal law. Freed from its legal shackles, the industry is experiencing rapid growth. As production and distribution of hemp increases, the business of extracting CBD from…

ThursdayAug 29, 2019 9:00 am

Hemp Boom Triggers Cross-Pollination Disputes

As the acreage devoted to growing industrial hemp increases rapidly, conflicts are beginning to simmer between the farmers of this crop. One potential source of conflicts throughout the U.S. has already reared its head in Oregon where one company is suing neighboring farmers over cross-pollination issues. The Jack Hempicine Seed Company alleges in its lawsuit that neighboring hemp farmers have “negligently” allowed pollen from their hemp farms to drift and pollinate the flowers of the seed company’s hemp crop. Why would pollination be a concern to hemp farmers? The reason for which someone is growing industrial hemp often determines what…

WednesdayAug 28, 2019 4:00 pm

USDA Announces Hemp Farmers Can Acquire Federal Crop Insurance

While the 2018 Farm Bill made hemp legal, hemp farmers have been struggling to access the same services and amenities that other crop farmers have access to, such as crop insurance. An announcement made by the U.S. Department of Agriculture (USDA) is bringing hope to a category of hemp farmers who will be able to purchase federal crop insurance starting with the 2020 growing season. The USDA announcement specifically refers to hemp farmers who are licensed to grow the crop under the pilot programs introduced in the 2014 Farm Bill. Unfortunately, farmers who were licensed to grow hemp under the…

WednesdayAug 28, 2019 9:00 am

B2B Platform Relaunched to Enhance Trust Along the Hemp Value Chain

The Naklo Foundation, based in Poland, has re-launched its B2B hemp marketplace in order to facilitate business between different actors within the hemp value chain. HempTrade, the trading platform created by Naklo Foundation, is open to both white label and branded hemp product wholesalers and bulk raw materials sellers. Such platforms are important at this time when the industry is still relatively young and industry actors are looking for trusted partners to work with. HempTrade has vowed to conduct a thorough due diligence process on all vendors that register to participate on its platform. This verification process is especially important…

TuesdayAug 27, 2019 4:00 pm

Research into Stable Genetics Gets Feverish as Hemp Industry Soars

While the USDA and the FDA may be struggling to come up with hemp industry rules, the scientific and research communities have hit the ground running in their quest to develop reliable hemp genetic material that is customized for different geoclimates and end uses. Here are some of the priorities that are driving this research on hemp genetics. Regional Performance It may be a bit of a stretch to expect the same hemp variety that performs well in Southern Texas to perform well in Northern Montana as well. This is because those two locations are in different climatic zones, and…

TuesdayAug 27, 2019 12:10 pm

Marijuana Company of America Inc. (MCOA) Reports Year-Over-Year Revenue Gains, Website Enhancements

Marijuana Company of America saw its second quarter profits jump 633.5 percent over the previous year Sales through its hempSMART brand continue to show strength, with more than $100,000 in gross sales reported for the month of July MCOA’s growing international presence is playing a key role in its profits as well, with 33.5 percent of the quarter’s revenue derived from sales in other countries The company recently redesigned its website in order to enhance the free flow of information between administration and company investors Innovative hemp and cannabis product cultivator Marijuana Company of America Inc. (OTCQB: MCOA) is celebrating…

TuesdayAug 27, 2019 11:40 am

HTC Extraction Systems (TSX.V: HTC) is “One to Watch”

HTC announced entering into a letter agreement for a CAD$15 million bought deal private placement of units led by Canaccord Genuity Corp. on July 3, 2019 (subject to closing); HTC’s business model includes owning physical assets at extraction and purification facilities to serve the clean energy and hemp biomass industries; Hemp biomass tolling contracts with producers and hemp biomass providers are either signed or being negotiated in Canada and the U.S.; HTC will provide “local to grower” drying-to-biomass storage capability and transportation of dried biomass to HTC extraction facilities; HTC is constructing a 19,000-square-foot GMP Euro compliant extraction tolling facility…

TuesdayAug 27, 2019 9:00 am

Factors Fueling Hemp Production in North Carolina

In 2017, the hemp pilot program in North Carolina attracted just 100 farmers. Fast-forward to this year and the number of licensed hemp growers has skyrocketed to 1,500. This number continues to grow day by day, so one would be driven to ask why hemp has attracted such huge interest. Several factors can explain why industrial hemp is likely to be more attractive as a cash crop in North Carolina in comparison to other states. The Declining Export Market The dwindling export market has had a devastating effect on farmers in North Carolina since a huge chunk of the produce…

MondayAug 26, 2019 4:00 pm

Ongoing Hemp Transport Uncertainties Trigger Minnesota Warning

A hemp industry group in Minnesota has issued a warning to manufacturers to avoid ordering hemp biomass from out of state in the aftermath of a hemp delivery driver from Colorado who was arrested in South Dakota on drug-related charges. The hemp was destined for a manufacturing facility in Minnesota. The warning, issued by the Minnesota Hemp Association, a newly formed group that has so far attracted a few dozen people to join its ranks, comes just as a federal court is scheduled to hear arguments regarding the transportation of hemp. Joe Radinovich, the head of the Minnesota Hemp Association,…