Article: CBD ‘gold rush’ could mean big business for Wisconsin’s hemp industry (Milwaukee Journal Sentinel Date: November 19, 2018)
1. In Wisconsin, hemp CBD extract sells for $50-100 per gram.
2. Wisconsin Hemp Scientific LLC is a toll processing firm who uses ethanol to process hemp flower.
3. While the hemp plant has uses in fibers, food, and construction, the real interest is in CBD.
4. Many believe that CBD is effective for anxiety, epilepsy, and depression, which has led to the gold rush atmosphere surrounding it. Studies have shown that it is effective for inflammation, pain, and insomnia.
5. While the hemp plant is still Federally illegal, that state legality has led to many retailers selling CBD products.
6. PriceLand Hemp in Black River Falls, has sold more than 10,000 bottles of CBD oil since April.
7. A Mount Horeb farmer who planted hemp, estimates a half acre of grown hemp (which resulted in 500 pounds of salable product), can be sold for $50 a pound.
8. Connoils LLC and PriceLand Hemp both plan on growing hemp indoors.
9. Some retailers are turning to pop-up stores and kiosks in malls in Wisconsin, North Carolina, and Michigan.
10. Hemp can bring $40,000 to $70,000 per acre, which may rival other cash crops like ginseng and tobacco.
11. 139 farmers planted hemp in Wisconsin in 2018.
12. The 2018 Farm Bill (pending in Congress) may legalize industrial hemp (no more than .3 percent THC). The door for financing and a boom to the industry will occur if passed, which will make it legal on a Federal basis.
13. As the gold rush atmosphere materializes, the CBD market soon will become saturated.