Marijuana Business Magazine

CANNABUS¬NESS BY THE NUMBERS 9,500 81% Number of states that have passed legislation related to industrial hemp cultivation. 33 16,417 10 • Marijuana Business Magazine • November / December 2017 U.S. ¬ndustrial Hemp Cultivation P roduction of industrial hemp in the United States has increased significantly since passage of the 2014 Farm Bill, which authorized cultivation for research purposes and pilot programs. To be sure, it’s still very early days for the U.S. hemp industry. Full-fledged hemp cultivation remains illegal at the federal level – the crop cannot be grown in a state that has not established a hemp program. The plant’s legal status and the fact it’s a cousin of marijuana have made it tough for growers to get crop insur- ance or bank accounts. Also, hemp farmers are still figuring out optimal growing practices. And it remains unclear how much demand exists for products made from U.S.-grown hemp. Despite the challenges, industry officials are optimistic the many uses for industrial hemp and its by-products – namely CBD – will encourage lawmakers to legalize hemp at the federal level and bring some much-needed certainty to the industry. With that in mind, here are some figures tied to U.S. hemp production in 2016: Estimated number of acres where industrial hemp was planted in 2016, accounting for approximately 58% of all acres authorized for hemp production. Portion of total acres registered for industrial hemp production in 2016 located in Colorado and Kentucky. Total acres registered for industrial hemp production in 2016. That represents a 145% increase over the 6,712 registered acres for industrial hemp in 2015. Sources: National Conference of State Legislatures; State of U.S. Hemp Production from SEED CX. by Eli McVey