Hemp Industry Looking at Establishing Trade Association

A coalition of hemp farmers, farm service companies, processors, crop insurance agents and lenders, and other stakeholders are looking at establishing a trade group.

The coalition notes that the 2018 Farm Bill “includes language permitting the growth of industrial hemp, but leaves it to each state to determine its own rules for cultivating, transporting, and selling hemp.

The coalition is working with veteran Washington lobbyists including Scott Graves, Christopher Thorne, and Matthew Valesko. “There are estimates that the U.S. hemp market could double in the next five years, going from $800 million to nearly $2 billion,” Graves told the Hagstrom Report. “That would be a major shot in the arm for American farmers.”

Hemp is currently used to make textiles, paper, paint, oil, biodegradable plastics, and many more items.