The passage of the 2018 Farm Bill last December was expected to galvanize the American hemp market.
The Bill resulted in the federal legalization of hemp and hemp-derived products, such as hemp-derived CBD. And, for the first time, hemp farmers would see their crops covered under the 1980 Federal Crop Insurance Act, and hemp scientists would face fewer restrictions when looking to research the plant.
Now, the cannabis industry data analytics and business intelligence firm New Frontier Data, in collaboration with Vote Hemp, has released a new report investigating the current state of the hemp cultivation industry within the United States. Its headline finding is that the total number of acres used for cultivating hemp in the US has increased by 328 percent since 2018.
The report, The U.S. Hemp Market: 2019 State Rankings, also includes individual state-by-state analyses and predictions on the future of hemp pricing, and is available to purchase and download online, via the New Frontier Data website.
Read more at analyticalcannabis.com