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Hemp Market Report September 2020
With little question, 2020 has been a challenging year for nearly everyone, and the hemp markets are no exception. From extreme weather to unstable legal status, this year’s tumultuous environment brings many unknowns to hemp producers.
Extreme Weather Making an Impact
In this episode of A Tech Moment, we talk about the wild weather changes across the nation. From fires to hurricanes, derechos to summer snow, hemp cultivators all across the US are seeing the impacts of climate change. Hopp shares his insight into how these severe weather conditions could indicate a significant drop in harvested hemp for the year. Factor in a decline in acreage and this could spell higher prices for hemp in the future.
Across the Pond
Hopp provides an update on the status of hemp in the European Union and statements made by the WHO. As regulatory bodies start to shift their stance, the ambiguity and lack of data become a hindrance to the progress made towards global legalization and acceptance. All across the world, the legal status of hemp and cannabis is fluctuating.
The DEA and the IFR
With the Interim Final Ruling released, everyone in the industry is anxious as they anticipate what the statement could mean in the long run for cannabis and hemp. Hopp shares his perspectives and reviews what the IFR means for producers.
Additionally, Hopp talks about the synthesizing of cannabinoids and what the IFR references regarding creating cannabinoids from hemp cannabinoids. Delta-8 THC is one such cannabinoid that is being produced through lab processes from hemp cannabinoids.
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