New York Hemp Farmers to Supply Medical Marijuana Market
Nov 12, 2019
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 to market and sell medical marijuana will now be able to buy the less expensive hemp grown under the state’s Hemp Agricultural Research Pilot Program, launched in 2015, to produce CBD products. According to officials, the rules also seek to reduce…
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