Hemp is set to eat into Oregon’s 2019 outdoor cannabis production, potentially slowing the state’s accumulation of excess cannabis inventory that now exceeds 1 million pounds of unsold product. From 2016 to 2018, the number of licensed hemp producers in Oregon jumped from 13 to 584. Statewide acreage devoted to hemp production likewise more than doubled to 7,808 acres last year from 3,469 in 2017. We’re poised to see that number climb higher now that the 2018 Farm Bill has granted hemp federal legality that still eludes cannabis.
It’s not just Oregon jumping on the hemp bandwagon, either. Hemp production is booming across the country. Nationwide acreage devoted to hemp production tripled from 25,713 acres to 78,176 in 2018. Tennessee just reported an 1,100% increase in licensed hemp farmers. And the Iowa Senate overwhelmingly approved new industrial hemp rules 49-1 this week.Read More