Federal Hyper Focus on Hemp Cannabinoids is Suppressing the Growth of Fiber & Grain

By Beau Whitney, Whitney Economics
In 2023, U.S. Hemp-derived Cannabinoid Sales are Larger than Legal Cannabis Sales

The U.S. cannabinoid market is a major national industry. At over $28 billion in revenue and with a nationally integrated supply chain, the hemp-derived cannabinoid market is currently larger than the entire legal U.S. adult-use and medical markets.

Will Proposed Federal Fixes Do More Harm than Good?

Hemp operators are looking for federal support in terms of standardizing rules and regulations related to hemp-derived cannabinoids so that the industry can maintain its extensive supply chain, support consumer demand and continue  interstate commerce. Right now, a one size fits all policy is doing more harm than good, and has reduced the fiber and grain opportunities by $20 billion alone in 2022/2023.

Many groups are involved, and policy makers are getting conflicting inputs. As a result, policies are haphazard, when they should be focused on specific sectors and issues like public safety, youth access, and product testing. Issue-specific policies would be beneficial because they would limit unintended impacts on other hemp sectors.

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EVENTS

Front Range Fall Hemp Fest
October 13, 2023. Longmont, Colorado

International Conference Hemp & Industry
October 16-17, 2023. Prague, Czech Republic

CBD Journey & CannaCon 2023
November 2-3, 2023. Tokyo, Japan

Asia International Hemp Expo & Forum 2023
November 22-25, 2023. Bangkok, Thailand

MJBIZCON 2023
November 28-December 1, Las Vegas

Jack Herer Cup 2023
November 29, Las Vegas

10th Annual NoCo Hemp Expo & 1st Innovate Earth Symposium
March 20-22, 2024, The Broadmoor Resort, Colorado Springs, CO

Experience Hemp Prague and the 21st Annual EIHA Conference
June 5-7, 2024, Prague, Czech Republic – Save The Date

Add your event to Hemp Events, a free listing service for legitimate hemp industry events. Visit www.HempEvents.org.

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