Hemp is one of the earliest crops to be tamed by humanity which is easier to buy comparing to get the best CBD oil in Canada. This non-psychoactive cousin of the cannabis plant was grown for a wide range of applications. These ancient plant roots were refined into various products such as paper, textiles, and cordage.
Industrial hemp once dominated the American landscape until the 20th century, when US lawmakers made the growing of hemp illegal as they sought to control the use of marijuana.
The use of industrial hemp has evolved into a great variety of uses. This ranges from biofuels, clothing, plastic composite material, construction material, organic body care to health foods.
One byproduct of hemp, Cannabidiol, has become so popular because people have discovered its medicinal value. People have found that CBD oil can be a treatment for arthritis, insomnia, epilepsy, and anxiety, among many other illnesses.
Hemp cultivation is once again legal in the United States. This has opened up tremendous opportunities in the agricultural economy. Here are four ways industrial hemp is changing the economy and how you can capitalize on it.
Creation of new careers.
The rapid growth of industrial hemp promises the creation of very many job opportunities. New careers in farming, research, regulation, and sales and market are required for industrial demand.
Government regulation is required in every step of hemp products, like CBD oil. These products cannot contain more than 0.3 percent of THC, which is the psychoactive element in cannabis. Therefore, stringent regulations have to be put in place before farmers are allowed to plant the crop.
This will create many jobs for compliance specialists who will help farmers to stay within the legal specifications. People in sales and marketing are also set to benefit from the hemp industry. Many small businesses that are hemp product-related are cropping all over the country.
Huge investments by farmers in industrial hemp
Farmers are betting big time on industrial hemp. According to the Vote Hemp advocacy group, between 2018 and 2019, the size of land under hemp cultivation saw a 455% increase.
This is a massive indication of the enormous demand for hemp and hemp products in the country. More than just farmers are needed to meet this demand.
Government regulators, small business start-ups to launch hemp products, and researchers are also needed in the hemp industry.
Demand for industrial hemp is changing legislation.
Legislation is a vital tool that influences the economy of any country. In 2018, the United States Congress passed the farm bill, which legalized the growing of hemp.
Congress removed all the restrictions that regulated the growing of hemp, transportation, and the possession of any hemp-derived product, including CBD oil.
Hemp is a cheaper alternative to the construction industry and paper industry.
Hemp-based material can be used as a cheaper alternative to wood. Hemp products are also stronger and more durable than wood.
Hemp-based paper is a superior alternative to tree-based paper. Hemp paper is stronger and brighter than tree paper. Thus, it does not require bleaching, which releases toxins into the environment. Furthermore, hemp paper can be recycled up to eight times.
These are just some of the ways hemp has influenced the agricultural industry and the economy. Since its legalization, there has been increasing demand for hemp and hemp-derived products, especially CBD products.