In times past, industrial hemp was considered as America’s number one cash crop before its importance diminished. However, we are now witnessing its comeback into the mainstream. It is almost impossible to discuss the economic evolution of the United States without mentioning the influence of industrial hemp.
Back in the colonial and post-colonial eras, hemp was considered to be the number one raw material for the paper, maritime, food, and clothing industries. Industrial hemp was used during the revolutionary war to supply American ships and troops. It was also used in the manufacturing of the paper used for the Declaration of Independence.
Today, hemp is defined as a species of the cannabis plant that contains less than 0.3 percent of tetrahydrocannabinol (THC), to be considered legal. Any cannabis extract that contains THC concentrations greater than this is considered by the government to be marijuana and is illegal in most states. Several studies have helped show the value of hemp which transcends both commercial and industrial uses.
However, people were not always free to either sell, procure, or purchase hemp in the 20th Century. As a result of inadequate knowledge about hemp at the time, hemp became a victim of the political reformation of the 20th Century. This happened because the 20th Century lawmakers treated both marijuana and hemp in the same way. They had no idea that, unlike marijuana, hemp is not a psychoactive substance.
Thankfully, things are beginning to change as a result of better and detailed information that aids in identifying the proper distinction between marijuana and hemp. This newly found knowledge is influencing legislative reforms in a positive way. This reformation could be a game-changer for industrial hemp.
With the hemp industry providing significant stability in the cannabis world, many hemp manufacturers such as Cannaflower are beginning to express innovative liberty in the cultivation, manufacturing, and selling of industrial hemp. Formerly popularly known as BerkshireCBD, Cannaflower, a reputable hemp manufacturer is now publicly identified by this new domain. The stability being enjoyed in the hemp industry now allows hemp consumers to procure hemp from online stores.
While a few states in the US are still skeptical about completely relaxing the restrictions placed on the cultivation, manufacturing, sale, procurement, and possession of hemp; we expect further change soon. This is as a result of the stance of the federal government and the majority of the states in the US who have declared hemp legal — as long as it contains less than 0.3 percent THC.
In 2016, the cannabis industry recorded that the global sales of consumer hemp had skyrocketed compared to previous years, hitting about $688 million. While this is great news for the cannabis industry, experts predict that CBD products that are derived from hemp will show a 22% compound growth each year for the next 5 years. This does not seem farfetched as the medicinal benefits of hemp are becoming well-known to the world at large.
The multifaceted medicinal benefits of hemp are now the number one reason for the rise of industrial hemp to the mainstream. In some parts of the world, many people refer to it as a magical elixir. This is as a result of the ability of hemp to treat and manage several health issues ranging from acute anxiety to Crohn’s disease. Hemp has evolved from being heavily restricted in the 20th Century to being one of the most significant cash crops of the 21st Century.
Its benefits spread across several industries, ranging from the paper industry to the health sector have made hemp to undoubtedly become one of the most demanded crops in the 21st Century. Hence, we may be witnessing the unique story of the evolution of industrial hemp from being an underdog to regaining its throne among other cash crops.