NewsRoom Articles - Page 88 of 251

ThursdayNov 14, 2019 4:00 pm

Hemp Company Looks to Cash in on Novel Cannabinoids Beyond CBD

Hemp is, without a doubt, one of the most attractive cash crops right now. A plant known for its versatility in use, it has been subject to a slew of legislation over the past few years that have resulted in an immense uptake in supply. In December 2018, Congress passed the Farm Bill, legislation that designated cannabis plants with less than 0.3 percent THC content as industrial hemp, and removed it from the list of controlled substances, in effect legalizing hemp at the federal level. In October, the USDA released its interim rules on hemp, finally providing a framework for…

ThursdayNov 14, 2019 9:00 am

Hemp Researcher Files Billion Dollar Claim Against County in California

A claim of $1 billion has been filed against Kern County by a hemp researcher for unauthorized eradication of 500 acres of hemp plants because the county sheriff’s office thought it was marijuana. According to the images displayed online by local TV station KGET-TV, in their filed claim, Apothio LLC and Trent Jones, who is a former chiropractor, cited the California statutes which permit possession of hemp by researchers. If the County denies the claim, there is a probability that the researchers will file a lawsuit against Kern County. On Friday afternoon, requests for comments on the filed claim went…

WednesdayNov 13, 2019 4:00 pm

How the National Hemp Rules Could Affect Idaho

Idaho is one of the few states that still don't have a hemp program, and it has no immediate plans to establish one. Under Idaho law, hemp is legally considered marijuana, and this puts CBD companies looking to transport raw hemp through the state between a rock and a hard place. Indeed, lawyers representing a Colorado-based company are currently suing the Idaho State Police for a shipment of hemp seized in January. In January, the Idaho State Police seized roughly 6,701 pounds of hemp that Big Sky Scientific had bought and was transporting through Idaho. Denis Palamarchuk, a 38-year-old trucker…

WednesdayNov 13, 2019 9:00 am

Wisconsin State Officials Say Federal Hemp Rules Unlikely to Affect 2020 Planting Season

According to agriculture officials in Wisconsin, the 2020 planting season will not be affected by the new federal rules on industrial hemp. Last week, the USDA released an interim final rule for establishing the Domestic Hemp Production Program. The USDA was mandated by the 2018 U.S. Farm Bill to develop federal regulations for industrial hemp growth. The released interim final rule provides guidelines on the record-keeping system for easy access to information, testing procedures, disposal of plants not below 0.3% THC content, and licensing requirements for the state and tribal hemp programs. The rules also establish federal plans for growers…

TuesdayNov 12, 2019 4:00 pm

New York Hemp Farmers to Supply Medical Marijuana Market

Hemp Farmers have even more cause to celebrate after the USDA released it's much anticipated final interim rule on hemp. After the 2018 Farm Bill legalized the cultivation of industrial hemp, supply for the product boomed as farmers joined the hemp industry in droves to cater to the immense demand for hemp-derived cannabidiol CBD. However, the sector remained unregulated, and hemp farmers had to brave the severe conditions of what some termed a 'wild west' industry. Hemp farmers in New York will now be able to gain an extra stream of revenue. Under the new rules, the ten companies licensed…

TuesdayNov 12, 2019 9:00 am

NYPD Erroneously Seizes Hemp Shipment Thinking It Was Marijuana

On November 3, the NYPD conducted a drug raid and confiscated 106 pounds of drugs believed to be marijuana. The two officers from Brooklyn 75th Precinct involved in the drug raid tweeted a photo standing next to more than 50 bags of “drugs.” In the tweet, the Precinct congratulated the Day Tour Sector E who were working closely together with FedEx and other law enforcement agencies to confiscate the drugs and arrest the individual transporting the delivery. But, it turns out that the confiscated drugs were hemp, not marijuana. The hemp was purchased from Fox Holler Farms in New Haven…

MondayNov 11, 2019 4:00 pm

Fire Guts Hemp Processing Facility in Kentucky

A hemp processing facility in Kentucky has been left counting its losses after an explosion and fire broke out on Thursday night, causing significant structural damage to the facility. According to authorities, the fire at GenCanna hemp processing facility was reported at around 8.15 p.m. Although there were several employees inside the facility at the time of the incident, no one was injured. Clark County Fire Chief Ernie Barnes said that the cause of the explosion and fire is still under investigation. He said that the Winchester Fire Department, Kentucky State Police and State Fire Marshal’s Office assisted with the…

MondayNov 11, 2019 9:00 am

Colorado Now Has to Modify Its Rules to Meet Federal Requirements

Hemp farmers all over the country can finally heave a sigh of relief after the U.S. Department of Agriculture released its long awaited interim final rule on hemp. Senator Cory Gardner applauded the USDA soon after the regulations were announced, thanking it for "moving forward on hemp rulemaking and recognizing hemp production as an agricultural activity." He said that legal hemp has the potential to be a major boon to agricultural communities across Colorado, giving farmers another viable and profitable option for their fields. However, farmers in Colorado haven't yet celebrated the news. Even though the Colorado Department of Agriculture…

FridayNov 08, 2019 4:00 pm

Hemp Banking Guidance to be Issued Soon by FDIC

On Tuesday, the FDIC told Banking Dive that within a week, the Federal Deposit Insurance Corp. (FDIC), The Office of the Comptroller of the Currency (OCC), the Federal Reserve and Financial Crimes Enforcement Network are developing interagency guidance on hemp banking for hemp-related businesses. The FDIC also said that last week after the U.S. Department of Agriculture issued the draft rules, the bank regulators also hatched a plan to release their interagency guidance soon. Hemp is a strain of the cannabis plant whose THC levels must remain below 0.3%. It was legalized under the 2018 Farm Bill. However, banks are…

FridayNov 08, 2019 9:00 am

USDA Releases Video Explaining its Draft Hemp Rules

Last week, the U.S Department of Agriculture (USDA) released its interim final rule for hemp. The much-awaited regulations came after months of pressure from stakeholders to regulate the hemp-CBD industry, with some even calling it the Wild West. The Farm Bill of December 2018 legalized the cultivation of industrial hemp, but the industry lacked a formal regulatory structure. Days after the publishing of the final rule, the USDA released a video providing a basic overview of the regulations. A statement from the USDA said that "The U.S Department of Agriculture has posted a webinar to provide an overview of the…