Banks may be hesitant to serve hemp companies because of confusion about marijuana laws, the top U.S. bank insurer says. But that doesn’t mean financial institutions should require a new law guaranteeing hemp banking, said Jelena McWilliams, head of the Federal Deposit Insurance Corp. (FDIC), which insures deposits. McWilliams was asked about hemp banking during […]
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Canadian hemp growers, health food makers fighting CBD limits
Canada is wrongly treating hemp extracts like marijuana, limiting opportunities for farmers and creating a black market for CBD, according to a trade group that wants Canadian health authorities to reclassify hemp-derived CBD.
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Arizona hemp breeder buying two greenhouses
An Arizona hemp company selling feminized hempseeds and clones said it is buying two greenhouses to increase production. According to HempWave, the new greenhouses – in Phoenix and Willcox, Arizona – total 210,000 square feet. The company said the additional greenhouse space will allow it to produce more than 500,000 seeds and 4.5 million clones […]
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Report: Hemp crop insurance guarantee may see US Senate action
A guarantee about hemp crop insurance may be added to a stalled disaster-aid bill pending in the U.S. Senate. According to The Washington Post, hemp advocate and Senate Majority Leader Mitch McConnell of Kentucky is trying to add language to the legislation to ensure hemp will be eligible for federal crop insurance. McConnell steered hemp […]
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Iowa governor signs law allowing hemp cultivation in 2020
Iowa farmers will have the option of growing industrial hemp next year under a law signed by Gov. Kim Reynolds on Monday. The Iowa Hemp Act passed the Legislature last month with overwhelming support. The law allows licensed growers to cultivate the crop on up to 40 acres. But before cultivation can begin, the Iowa […]
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Connecticut authorizes CBD in food, hemp farming
A new Connecticut hemp law that allows unlimited hemp production and the sale of foods containing CBD leaves New Hampshire as the lone New England state with no hemp program. The law signed Thursday by Gov. Ned Lamont sets up Connecticut hemp production as soon as this year. Details of the Constitution State’s hemp law […]
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Georgia legalizes hemp farming, allows CBD in food
Citing a need to “open up new commercial markets for farmers,” Georgia has legalized hemp farming in a new law that allows cultivation for all purposes, including CBD-infused foods.
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Canadian nutritional-supplements firm to buy North Carolina hemp extractor
A Quebec, Canada-based supplements company has agreed to acquire a North Carolina hemp extractor, the latest Canadian cannabis company to move into the U.S. hemp industry.
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Canadian CBD firm expands in Europe with Polish hemp grower
A Canadian company focused on CBD extraction in Europe has bought a Polish hemp grower. StillCanna acquired Olimax, which grows about 3,700 acres (1,500 hectares) of hemp, in a deal valued at more than 25 million Canadian dollars ($18.6 million). The cash-and-stock deal includes a cash payment of $2 million, plus 24 million common shares […]
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Mattress firm navigates tricky hemp-fiber market
A Michigan company hopes to be at the forefront of industrial hemp textile and fabric adoption by marketing hemp mattresses to millennials. However, short supply of hemp fiber for textiles and fabric is creating challenges for the company and driving up the price. “When we went on the hunt for the ingredients to build the […]
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Kentucky hemp company researching cultivation in space
Update: The launch scheduled for Friday morning was delayed until Saturday. A Kentucky hemp company is sending seeds into space to see what changes when the plant has less gravity. Winchester-based Atalo Holdings’ seeds will hitch a ride to the International Space Station aboard SpaceX 17, scheduled to launch Friday. Scientists will be looking at […]
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Canopy Growth settles on New York hemp site, will start building this summer
Canadian marijuana giant Canopy Growth has chosen a small New York town near the Pennsylvania border as the site for its $150 million entrance into the U.S. hemp market. Canopy announced Monday it will build an industrial park on a 48-acre property in Kirkwood, New York, about 5 miles north of the Pennsylvania border. The […]
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