Marijuana Growers Turning to Hemp as CBD Extract Explodes
1. As legal marijuana prices are dropping in Oregon, growers are begining to focus on hemp derived CBD production.
2. Since 2015, quote – applications for sate licenses to grow hemp … have increased more than twentyfold – unquote, in Oregon. Much of this new interest comes from the growing demand for cannabidiol (CBD) extract.
3. Acording to this article, CBD extract can fetch, quote – thousands of dollars per kilogram – unquote, and growers can produce, quote – more than $100,000 an acre growing hemp plants to produce it – unquote.
4. Oregon’s climate is ideal for growing both marijuana and hemp. Legalization, without a cap on production licenses along with the ideal climate has created a surplus of legal marijuana. With no legal means of exporting the excess out of the state, prices are being driven down.
5. At the time of publication, Oregon had a marijuana inventory of, quote – nearly 1 million pounds of usable flower… and 350,000 pounds of marijuana extracts, edibles and tinctures – unquote.
6. Since 2015, the retail price per gram of legal marijuana as been cut in half, dropping from $14 per gram to just $7 per gram. This is having a significant financial impact on producers.
7. Some producers are having to consider destroying product to make way for fresh harvests instead of continually storing it.
8. Hemp is legal federally and is defined as having less than 0.3 percent THC (the high inducing component of marijuana). It has been used for thousands of years in products such as fabric, rope, construction materials, and produces edible seeds.
9. As a result of marijuana legalization and a growing demand for CBD extracts, quote – at least 50 percent of hemp nationwide is being grown for CBD extraction – unquote, currently.
10. Supporters of CBD extraction claim a number of healthful benefits of the products, many of which have been confirmed by small scale studies. Unfortunately, CBD is still under the administration of the DEA and is difficult to study without specific authorization. This has prevented the large scale studies required for truly medical use.
11. The fact that CBD extracts are not confined by state boundaries means that even though there is a huge expansion in production currently, that produce can leave the state to fill demand elsewhere, drastically reducing the possibility of surplus in the near future.
Source: Flaccus G. Marijuana growers turning to hemp as CBD extract explodes. The Denver Post. https://www.denverpost.com/2018/05/14/marijuana-growers-cbd-extracts/. Published April 24, 2018. Accessed August 6, 2018.
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