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Paraguay legalizes industrial hemp

The global industrial hemp market is currently estimated to be worth nearly five billion dollars (USD). By 2025, it is projected to be worth over $26 billion dollars (USD).

For a number of years, the industrial hemp industry was significantly limited by prohibition policies all over the globe. Fortunately, things have changed in recent years.

A number of countries around the world still prohibit hemp production, however, a growing list of countries are allowing farmers to legally cultivate the versatile plant, with the latest being the nation of Paraguay. Per La Nacion: On Monday, the Executive Branch announced that President Mario Abdo signed the regulatory decree for the controlled production of industrial hemp or cannabis. It establishes that family farming producers can grow it.

The policy change allows every family in Paraguay to cultivate up to a maximum of two hectares of low-THC industrial hemp. Two hectares equates to slightly under 5 acres.

Read more at internationalcbc.com

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