The following is an article from last year, and a valuable insight exploring the money making side of the game, as the title suggests, grow hemp, make money!
After a 77-year break, hemp plants are growing in American soil again. Right now, in fact. If you hear farmers from South Carolina to Hawaii shouting “God bless America,” the reason isn’t because Thomas Jefferson drafted the Declaration of Independence on hemp paper (he did). Nor is it because the canvas that put the “covered” in pioneer covered wagons was made of hemp, nor that the hemp webbing in his parachute saved George H.W. Bush’s life in World War II.
Nope. It’s because U.S. policy is finally acknowledging that hemp can help restore our agricultural economy, play a key role in dealing with climate change and, best of all, allow American family farmers to get in on a hemp market that, just north of us in Canada, is verging on $1 billion a year.
Hemp takes half the water that wheat does, and provides four times the income. Hemp is going to revive farming families in the climate change era.
– Colorado farmer Ryan Loflin
Hemp is a variety of cannabis — and thus a cousin of marijuana — that contains 0.3% or less of the psychoactive component THC. (Marijuana plants typically contain 5% to 20% THC.) You can’t get high from hemp, but starting in 1937, U.S. drug laws made cultivating it off-limits.
Finally, the U.S. hemp industry is back. A provision in the 2014 farm bill signed by President Obama on Feb. 7 removed hemp grown for research purposes from the Controlled Substances Act, the main federal drug law.
Not a moment too soon. American farmers have been watching as Canadian farmers clear huge profits from hemp: $250 per acre in 2013. By comparison, South Dakota State University predicts that soy, a major crop, will net U.S. farmers $71 per acre in 2014.
After DEA approves hemp seed import, Kentucky plants a landmark crop
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Canada’s windfall has been largely due to the American demand for omega-balanced hempseed oil. But hemp is also a go-to material for dozens of applications all over the world. In a Dutch factory recently, I held the stronger-than-steel hemp fiber that’s used in Mercedes door panels, and Britain’s Marks and Spencer department store chain used hemp fiber insulation in a new flagship outlet. “Hempcrete” outperforms fiberglass insulation.
Farmers I’ve interviewed from Oregon to Ohio have gotten the memo. In a Kansas-abutting corner of eastern Colorado, in the town of Springfield, 41-year-old Ryan Loflin wants to save his family farm with hemp. “It takes half the water that wheat does,” Loflin told me, scooping up a handful of drought-scarred soil so parched it evoked the Sahara, “and provides four times the income. Hemp is going to revive farming families in the climate-change era.”