Hemp Industry News: Nov 16

Hemp Industry News November 16, 2020

HEMP INDUSTRY NEWS

$6 Million Michigan Hemp Development 

Viobin invests more than $6 million to expand their Michigan City hemp production plant. The city is grateful that the group invested in this “cutting edge industry”, in their home. The expansion will create more integrations, efficiency, and jobs. Read More Hemp Industry News and Watch Indiana Grow.


LEGISLATION 

New York  Clarifies CBD Regulations 

New York wrote specific language to define the CBD market and create consumer trust. These innovative rules vary from explicit extraction classifications to an “intermediate sales” rule of 3% THC. Despite the sheer forward-thinking legislation, smokable hemp and edibles are either prohibited or heavily regulated.  Read More and Watch NY Define the Industry. 


FARMING 

Hemp Farming Fights Climate Change 

Farmers are “trying to restore, regenerate and reimagine.” The keys are to “start with a manageable amount” and with  “local agriculture supporting local businesses.”  It seems like quite a beautiful solution to help the earth and promote healing products. Read more Hemp Industry News and Sequester Carbon.


INTERNATIONAL

USDA Validates International Hemp 

The USDA, funds NIHC and “demonstrates the federal government’s recognition of hemp’s potential.” This creates, “an opportunity to compete internationally as the leading agricultural countries in the world. It will be interesting to witness how this funding will accelerate the reach of U.S. Agricultural Hemp.  Read More and Get That Government Money. 


CONSUMER MARKET 

CBD Healing America’s Anxiety 

58% of American hemp consumers use CBD to self medicate anxiety. Nielsen released an extensive and insightful report studying hemp consumption habits.  This study also highlighted the close relationship between CBD and wellness with 30% of consumers using CBD for “general wellness”.  Read More and Stock Up for Shutdown #2

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