Episode 1 | What the 2018 Farm Bill Means for Hemp
Hemp is already a growing industry. But some forecast that the business could become a $20 billion dollar industry by 2020. Part of this also includes an increase in hemp research. The 2014 Farm Bill allowed for the industrial hemp pilot program which was a significant milestone in hemp research. These Hemp Pilot Programs “created a framework for the legal cultivation by states of ‘industrial hemp’ without a permit from the Drug Enforcement Administration.” The 2014 Hemp Pilot Programs were a success for farmers and consumers across the U.S. but in the 2018 Farm Bill two further sections became available which will have high importance to hemp researchers as well.
The 2018 Hemp Farm Bill is a big change for the hemp industry and understanding what it means for hemp farmers and consumers of hemp CBD is important to break down. We thought this was an important topic to discuss and a great way to kick off our brand new podcast.
Join me, Ryan Sanford, as we navigate what it all means!
- Hemp is officially removed from the Controlled Substances List and separated, by definition, from marijuana.
- The definition of hemp has been expanded to include CBD, cannabinoids and other derived products from hemp. So it's not just the stock and seed anymore.
- Now, the US Department of Agriculture (USDA) is in charge of hemp laws at a federal level, not the DEA.
- How the Interstate trade of hemp products and hemp material is allowed federally.
Time Stamped Notes
(2:49) History of Hemp laws
(3:19) 2018 Farm Bill
(3:53) Transportation issues
(4:14) What the bill means for economic growth and research
(4:55) Section 7605 – protections for hemp research
(5:17) Section 7501 – “Critical Agricultural Material Act”
(5:33) How is marijuana different?
(6:07) CBD vs THC in anxiety
(7:58) What does this mean for banking?
(9:40) Is CBD legal?
(10:32) State government involvement
Keep the conversation going
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The Hemp School Podcast
Each week, we’ll bring you the latest news, educational resources, and testimonials in regards to the hemp and CBD industries from our team, stable of experts and people just like you.
We believe strongly in the benefits CBD has to offer for your health and the impact farming industrial hemp can have on farming communities.