If the House agrees to incorporate the Hemp Farming Act in a final version of the farm bill eventually passed by Congress, the legislation would legalize hemp as an agricultural commodity, removing it from the federal list of controlled substances. Hemp food, supplements and body care products in the United States comprised $553 million in sales, while hemp-derived CBD products alone were said to be worth 23 percent of the market, or $190 million.
Lightbulb Moment: If this passes it would potentially create a new Pandora’s Box – a virtually unstoppable trend with few or no competitors or adversaries. No competitors – yes, I agree, but no adversaries…not so much. This trend also affects the textile and pharmaceutical industry so has far-reaching implications and allies beyond the food industry.