Tag: hemp
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Tennessee Hemp Product Sales Have Generated Over $10 Million In Tax Revenue
Tennessee, like many other states, has a thriving hemp-derived product market. Demand for products derived from hemp that contain cannabidiol and/or ‘alternative cannabinoids’ such as delta-8 and THCa have increased significantly in recent years. The hemp industry in Tennessee is in flux on the regulatory side, with new rules recently taking effect. For example, edible…
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University Of Missouri Researchers Suggests Using Hemp To Boost Grazing Pastures
Frequent droughts in Missouri in recent years have livestock producers exploring different crops that may be more adaptable for summer pasture options compared to common pasture crops. Researchers at the University of Missouri have studied hemp for this purpose, and their findings are promising. The hemp plant uses considerably less water to produce a solid…
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Canada’s Hemp Industry Continues To Shrink
As Canada’s legal adult-use cannabis industry has increased in size and scope in recent years, the same cannot be said about the nation’s hemp industry. According to Canadian government data, the number of industrial hemp licenses issued has trended downward in recent years. Below is the number of licenses issued by year: 2018: 542 licenses…
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How Much Hemp Does South Dakota Produce?
South Dakota was the third state to adopt its own hemp production laws after the historic 2018 Farm Bill was passed at the national level. The 2018 Farm Bill legalized hemp production across the country, and since its enactment some states have produced more hemp than others. South Dakota produced more hemp than any other…
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How Many Hemp Dispensaries Are Located In Houston, Texas?
In 2018, the U.S. Farm Bill legalized industrial hemp cultivation across the country, including in the State of Texas. In 2019, Texas passed state-level hemp legislation to implement a regulatory framework for the state’s emerging hemp industry. “Here in Texas, House Bill 1325 was signed into law in June 2019 and authorizes the production, manufacture,…
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How Much THC Is Allowed In Iowa’s ‘Consumable Hemp Products’?
A new law in Iowa, set to take effect on July 1st pending a legal challenge, will drastically change the state’s emerging hemp industry if/when it is implemented. Iowa House File 2605 caps the amount of THC in ‘consumable hemp products’ at 4 milligrams per serving and 10 milligrams per package or container. “Roughly 1,100…
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Idaho Has Approved 2,577 Acres Of Hemp Production In 2024 So Far
The Idaho State Department of Agriculture has approved 2,577 acres of hemp production in 2024 so far, up from 459 acres in 2022 and 1,274 acres in 2023. However, the number of entities producing and/or handling hemp in Idaho is down in 2024, dropping from twenty three in 2023 to twenty in 2024. “A hemp…
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How Much Hemp Does Tasmania Grow?
Tasmania is an island state of Australia, located 240 kilometers to the south of the Australian mainland. Tasmania’s government is currently working to overhaul the Industrial Hemp Act 2015, which currently serves as the legal framework for Tasmania’s emerging hemp industry. “A recent report showed that Tasmanian hemp fields remained severely contracted in the 2023-2024…
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Global Industrial Hemp Market Projected To Be Worth $24.30 Billion By 2033
According to market analysts at Spherical Insights LLP, the global industrial hemp market is projected to be worth an estimated $24.30 billion by 2033. Spherical Insights describes itself as “a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and…
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Global Hemp-Based Product Market Projected To Reach $16.2 Billion By 2033
The global market for hemp-based products is projected to reach $16.2 billion by 2033, growing at a CAGR of 24.5% between 2023 and 2033, according to a market analysis by Fact.MR. The researchers estimated that the market was worth $1.8 billion in 2023. “Europe and North America collectively account for around 70% of the global…