The Department of Agriculture in Kentucky has started receiving applications from growers and processors of hemp for the 2020 hemp licensing program.
Applications for the cultivation of hemp must be submitted before March 15, 2020, while processor applications are open throughout the year.
The Agriculture Commissioner, Ryan Quarles, said that the hemp industry in Kentucky had an influx of processors and about 1,000 growers of hemp. He added that he is hoping that more farmers will apply for licenses to grow hemp. Quarles also said that potential hemp growers must make sure that they understand the risks and opportunities involved before entering the emerging hemp industry.
The hemp licensing program is under the Department of Agriculture in Kentucky. Officials from the Department of Agriculture said that the application process would also be conducted online on its hemp webpage.
A hemp summit will be held at Kentucky’s Exposition Center in Louisville on December 4 from 9 a.m. to 5 p.m. to share more information with the members of the public who would like to join the industry.
People are required to pay a fee to attend the summit. Early registration costs $25 per person, lunch inclusive. Late registration, which starts from November 21 to November 26, will be $50 per person. According to the summit officials, pre-registration will be done online so there will be no on-site registration.
According to Quarles, the hemp summit’s timing is very significant for the industry because they are still at the initial phase of restoring the crop despite the rapid growth in the industry for the last few years. He further added that the industry is plagued by several challenges, such as the federal uncertainties surrounding how the hemp industry will conduct business with banking and lending institutions. He therefore called on the public to attend the summit and learn more about the opportunities and challenges present in the industry.
The primary purpose of the summit is to provide an avenue for learning about the hemp industry for the applicants, cultivators and processors. They will also be educated on the licensing program in Kentucky, and the new 2020 online application process. The summit will also host a tradeshow.
The agenda of the summit is to address the growth, opportunities available, and challenges facing the current hemp market. Among the topics which will be discussed by the panelists include the process of acquiring a license, growing hemp and the challenges facing the hemp industry as it changes from a study phase to industrial production. They will also discuss the new guidelines from the federal Department of Agriculture (USDA).
Experts are of the view that industry actors like Hemptown USA and SinglePoint Inc. (OTCQB: SING) are glad that Kentucky is going ahead to reassure residents that everything will go on as earlier planned as the officials see how to implement the federal hemp rules released recently.
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