Uncategorized Archives - Page 82 of 221

TuesdayNov 05, 2019 9:00 am

First Hemp Processing Plant in Virginia Set to Be Launched

Virginia's first commercial hemp fiber processing plant, Vitality Farms, LLC, will soon be launched in Wythe County according to an announcement Governor Ralph Northam. The facility, currently operating as Appalachian Biomass Processing, plans on investing $894,000 and creating 13 jobs. The plant intends to purchase at least 6,000 tons of industrial hemp valued at $1 million or more from farmers in Virginia in the following three years. In March, Governor Northam aligned Virginia’s hemp law to the 2018 Farm Bill by signing the bill legalizing commercial farming and processing of industrial hemp. The announcement was marked as the first economic…

MondayNov 04, 2019 4:00 pm

Farmers Express Concerns About Newly Released Hemp Regulations

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…

MondayNov 04, 2019 9:00 am

Utah Farmers Report Successes and Challenges in First Hemp Season

Jud Haward is a hemp farmer from Utah whose crop is now drying in his barn after harvesting. He has used the hanging method to dry his plants and the drying hemp is filling the air with a heavenly cannabis aroma. He is proud of the hemp yields from his 10-acres despite having sold only a part of the crop. Haward was among the first farmers in Utah to grow industrial hemp. Thus, he relied mainly on his instinct and little guidance from an expert to nurture his crop to maturity. The most nerve-wracking thing is, he was never sure…

FridayNov 01, 2019 4:00 pm

North Carolina Farmers Fear Smokable Hemp Ban Will Drive Them Out of Business

As farmers all over the country celebrate the USDA's release of its final interim rule on hemp, those in the state of North Carolina are worried that the plant might quickly become unprofitable for them. As the farmers work on last season's harvest, pending legislation on the legality of smokable hemp hangs over them like Damocles’ sword. The ban on smokable hemp, which would take effect on June 1, 2020, has farmers very worried. Zach Mountford is a hemp farmer in Dublin County. He says that although he's happy with this last season's harvest, he fears that it might be…

FridayNov 01, 2019 9:00 am

Cannabis and Hemp Jobs Expand Despite Regulatory Uncertainties

In the 2019 Hemp and CBD Industry Factbook, Kristen Nichols writes that hemp is new, popular and has immense potential, but the course the hemp industry is taking is not yet clear. She likens the industry to a runner with brand new shoes and full of energy with no idea of the course. The hemp industry has captured the interested of many. A recent sales report shows that in 2019, CBD sales are expected to exceed $1 billion, which denotes a 133% increase above 2018 sales. By 2024, sales are forecasted to be $10 billion or more. The supply chain…

ThursdayOct 31, 2019 4:00 pm

The USDA Hemp Rules Are Finally Out

CBD users, hemp farmers, and processors can finally breathe a collective sigh of relief after the USDA finally released the much-anticipated hemp regulations. On Tuesday, the US Department of Agriculture released draft rules for hemp production and said it would soon begin accepting state regulatory plans for the newly legal crop. The long-awaited interim final rule will be published in the Federal Registry by the end of this week, followed by a 60-day comment period. Once the rules are finalized, states and tribes will be able to submit their regulation plans to the USDA for evaluation. Any jurisdictions that don't…

ThursdayOct 31, 2019 12:33 pm

SinglePoint Inc. (SING) CEO Reports NACS Excitement over Hemp Cigarettes, Budding Financial Promise for Direct Solar Subsidiary

SinglePoint is researching opportunities through which it can influence the strategy and direction of high-potential companies The company’s CEO recently discussed the multifaceted path forward for SinglePoint on MoneyTV SinglePoint’s ability to market hemp cigarettes at NACS was deemed “perfect timing” A diversified holding company, SinglePoint Inc. (OTCQB: SING) specializes in the acquisition of small to mid-sized companies. With operations in manifold industries and verticals, SinglePoint offers investors the opportunity to make investments for portfolio appreciation through diversification in various assets. In essence, the company researches opportunities where it can be an active participant by influencing the strategy and direction…

ThursdayOct 31, 2019 9:00 am

Licensed Hemp Farmer Accuses Canadian Bank of Illegally Closing His Account

Akeem Gardner is a licensed hemp farmer near Orangeville, Ontario. Gardner said that his account at the TD Bank was frozen after the bank accused him of illegal activities based on his outward appearance and other false accusations. He further said that when he was dressed in business attire, the bank never flagged him, but all this changed when he tried to transfer money to a merchant three weeks ago. In an interview with BBC, Gardener, who is a 6’4 black man, was dressed in a hoodie and a toque. He adds that people from minority groups come across these…

WednesdayOct 30, 2019 4:00 pm

Hemp Breeders Now Have More Options to Protect Their Proprietary Genetics

Contrary to popular belief, cannabis doesn't just grow like a weed. A lot of effort has to be put into it from planting to harvest. However, even before the farmers get their hands on hemp seeds, someone has to breed hemp them so that they are suitable for cultivation. The Farm Bill of 2018 did more than legalize the cultivation, handling, and sale of hemp and hemp products. The legislation introduced options for these hemp breeders, the protection of the proprietary genetics of their seeds, and legal recourse for violated patents. CBD has, over the years, proven its effectiveness against…

WednesdayOct 30, 2019 11:19 am

VPR Brands LP (VPRB) Among Industry Players Awaiting Final USDA Hemp Rules

VPRB among key players anticipating United States Department of Agriculture (USDA) final draft rules on industrial hemp USDA’s Deputy Secretary Stephen Censky noted the regulations’ release to be expected within weeks, ahead of 2020 planting season Interim rules drafted include input from myriad voices; intend to relieve burden on producers, stakeholders VPR Brands LP (OTCQB: VPRB), a multi-vertical tiered technology holding company in the cannabis space including vaping, joins other hemp industry players in their anticipation of the United States Department of Agriculture’s (USDA) release of an interim final rule for its Hemp Program. This announcement is timed in advance…