Since antiquity, hemp has been grown by thousands of farmers and used for a variety of purposes. Humans have been using hemp for over 10,000 years and it was one of the first spun fibers in human history. Growing hemp was encouraged during World War II and considered necessary for the war effort. From 1937 and on a dedicated taxation approach was taken when it came to the cultivation of hemp. However, the federal government passed the Controlled Substances Act of 1970 which started the Drug War and tightened government control over the cultivation of cannabis products. Essentially an entire industry was destroyed overnight as hemp was put on the same list as many dangerous drugs. With the passage of the 2018 Farm Bill hemp was finally made legal to grow once again after nearly 50 years of prohibition. This has led to a complete change in the industry and an explosion in the popularity of CBD and hemp-infused products.
America’s Next Gold Rush
Some experts are calling this new boom in the cannabis industry the next American gold rush. From just about $200 million in annual revenue only a few short years ago to an anticipated $20 billion in the year 2020. Many people are seeing an avenue to make some serious money and are turning into CBD growers, CBD producers, and CBD retailers alike. This is great news as CBD has been reported to help so many people with a huge array of ailments. With so many people jumping on board it makes CBD more available to the common person, but it also increases competition thus making it more affordable. CBD is set to become a major player soon and is poised to change the self-care industry forever. If you have thought about starting your hemp farm, making CBD infused products in your kitchen, or starting your own CBD based business then now is the time. Join the revolution and get ready to put money in your pocket at the same time!
Starting My Own Hemp Farm?
Maybe you read that sentence and it got you thinking. You have always wanted to start a farm and get out of the city. Hemp can be the ticket for many people looking to escape the hustle and bustle of average life while still making enough to support your family. Perhaps you already have a farm and have been looking to diversify your portfolio. Hemp is a cash crop that is only expected to grow year after year. There is no reason not to grow hemp other than the regulations set forth by each state. Look into your local laws and get started building your dream today!
Where Do I Sell My Hemp?
You might be wondering once the hemp is grown where exactly would you sell it? Sure, hemp could be sold as-is as a smokable flower but that is still a rather niche market. Perhaps you are interested in just selling your crop and not getting the CBD extracted. If that is the case, then there are many companies out there that offer this service too. By selling your hemp off at the end of the season you can focus on what matters to you most, growing it. Another option is to extract the CBD from the hemp and have it turned into a variety of CBD infused products such as CBD gummies, CBD tinctures, and CBD topicals. However, the downside is that having the equipment necessary to extract CBD yourself is quite expensive to purchase, maintain, and operate. This makes it hard for those looking to grow hemp, but without the capital to invest in the specialized equipment to make final products. For these cases, hemp tolling is perfect for small to medium-sized farms.
What is Hemp Tolling?
Hemp tolling is the outsourcing of the CBD extraction process to another company. It is the ideal solution for growers who cannot perform their extraction. Many hemp tolling companies will allow you to choose what final product is produced. Sometimes they will even do a split where there is no need to exchange money and they just keep some of the extracted CBD. If you are a small-scale hemp farmer, then consider hemp tolling services to turn your precious hemp crops into a usable and valuable resource.