Newsletter
Newsletter – January 2, 2020
Hemp Futures: Trends to Watch in 2020
By Steven Hoffman
In the year since hemp became legal in the U.S. under the 2018 Farm Bill, the hemp industry has quite literally taken off. Retail sales of CBD products in the U.S. alone are expected to surpass $1 billion in 2019, a 133% increase over 2018 sales, and Hemp Industry Daily projects retail CBD sales will increase to $10.3 billion by 2024, representing a five-year compound annual growth rate of 54%. Indeed, “2019 will forever be remembered as the year that launched America’s CBD craze,” observed Patrick McCarthy, CEO of ValidCare, a market intelligence and research platform for the hemp products industry.
While legalization has spawned a burgeoning industry, challenges for hemp operators proliferated in 2019. Retailers, vendors and other entrepreneurial businesses had difficulty finding banking and credit card companies that would work with them. FDA in November issued a consumer advisory questioning the safety of CBD along with warning letters to 15 companies, setting off late-year uncertainty among businesses that sell CBD in food, beverages and dietary supplements. For farmers, USDA’s interim hemp regulations, published in October, have generated controversy around proposed testing procedures and potential for farmers to bear an undue burden of costs if crops need to be destroyed.
They say hindsight is 2020. If so, what better year for the hemp industry to remain proactive on all fronts. On the wish list for a new decade is the opportunity to co-create an industry built on authenticity, transparency, entrepreneurship, innovation, diversity, equal opportunity and cooperation, as well as one committed to promoting local economies, social responsibility and environmental stewardship.
Here’s a sampler of some of the hemp industry’s top issues, predictions and business opportunities to consider as we enter 2020 and a new decade.
Photo Montage: Compass Natural
Hemp Salve Photo: Pixabay
Hemp House Photo: Wikimedia Commons
Learn more about what 2020 will bring for the industrial hemp and CBD industry at the 2nd Annual Winter Hemp Summit, Thursday, January 16, 2020, Boulder, CO. Visit https://winterhempsummit.org.
News Briefs
McConnell Marks Anniversary of Legal Hemp with Hemp Pen
by Marijuana Moment
Rodale Institute: 5 Ways Hemp Can Save the Planet
by Rodale Institute
EPA Approves 10 Pesticides for Use on Industrial Hemp
by Successful Farming
Forbes Presents 2019 Hemp, Cannabis Retrospective
by Forbes
Headline News
What Baby Yoda, OK Boomer and Hemp Farming Told Us About the 2019 Economy
by The New York Times
Hemp Industries Association Seeks New Leader as Colleen Keahey Lanier Steps Down
by Hemp Industry Daily
NYPD Returns Wrongfully Seized Hemp Shipment to Brooklyn Wholesaler
by The New York Post
Wisconsin Bankers Association Survey: 50% of Respondents Will Offer Hemp-related Banking in 2020
by Cannabis Business Times
Hemp Cleans Toxic Soil While Producing Clean CBD Flower, Study Finds
by Leafly
The Number of U.S. Acres Dedicated to Hemp is 100 Times Greater than Five Years Ago
by Quartz
Too Much THC in Hemp Is Becoming a Real Buzzkill for Emerging Industry
by Successful Farming
Food, Beverage & Supplements
FDA Aside, Nielsen Sees Tremendous Potential in CBD Products
by Store Brands
Four Things Hemp Lawyers Want You to Know Before You Sell CBD Products
by The National Law Review
Can Food Addiction Be Tackled with Hemp or Marijuana?
by Benzinga
Food Producers of Idaho Forms Committee on Hemp
by Capital Press
Oregon Regulators Ban CBD in Alcoholic Beverages
by The Portland Mercury
CBD Skincare: “Sky is the Limit” in U.S. Market
by South China Morning Post
CBD Store Owner Accused of Scamming Hemp Farmers Pleads Not Guilty
by Vermont Digger
Fashion and Fiber
Denim Brands Expand into Hemp
by The Sourcing Journal
Hemp Leads Conscious Luxury Trend in Fashion
by Elle India
Fashion Brand Nusumeria Finds New World in Hemp
by Apparel News
Farming and Agriculture
New Jersey Farmers Can Grow Hemp in 2020
by NJ.com
USDA Announces First State and Tribal Hemp Production Plans
by USDA
USDA Announces Pilot Insurance Coverage for Hemp Growers
by AgDaily
AgProfessional’s Top 10 Hemp Stories from 2019
by AgPro
Seneca Nation Enters Hemp Industry
by WBFO Buffalo, NY
International News
German Engineer Rolls Out Hemp Harvester for Small, Mid-Sized Farms
by HempToday
New Age Beverages Launches Hemp Products Portfolio in Australia, New Zealand
by Seeking Alpha
Consumers in India Turning to Hemp
by The New Indian Express
Events
CBD Health Revolution Free Online Webinar, featuring Morris Beegle and Cait Curley, Jan. 13-19, 2020
by CBD Health Revolution
Winter Hemp Summit, Jan. 16, 2020, Boulder, CO
by Colorado Hemp Company
Texas Hemp Convention, Jan. 28-30, 2020, Dallas, TX
by Texas Hemp Convention
International Cannabis Business Conference, Feb. 6-7, 2020, San Francisco, CA
by ICBC
World Ag Expo Hemp Innovation Challenge, Feb. 11-13, 2020, Tulare, CA
by World Ag Expo
Natural Products Expo West, March 3-7, 2020, Anaheim, CA
by New Hope Network
NoCo Hemp Expo Expands 2020 Show at National Western Complex in Denver, March 26-28, 2020
by NoCo Hemp Expo
Subscribe to the L
Let’s Be Blunt with Montel Williams – Interview with Morris Beegle, Hemp Entrepreneur
Emmy Award winning TV personality Montel Williams is one of the nation’s leading advocates for medical cannabis, which he credits for helping manage the symptoms of Multiple Sclerosis, a disease he was diagnosed with in 1999. Now the host of a leading cannabis lifestyle and interview show, “Let’s Be Blunt,” Montel and his guests explore the intersection of cannabis, activism, health, and wellness. The podcast works to bridge the gap between common cannabis knowledge and in-depth research, while also giving high-profile guests a chance to “be blunt” about their lives, what they’re passionate about, and what they believe in. This episode features Let’s Talk Hemp’s very own Morris Beegle. As producer of NoCo Hemp Expo, Southern Hemp Expo and founder of Tree Free Hemp, Silver Mountain Hemp Guitars and other ventures, Morris shares his insights and perspectives.
