More people discover CBD oil's benefits each day, and the industry continues growing rapidly to meet demand. The US Department of Agriculture (USDA) aims to expand cultivation and grow the sector through a new program announced days ago.
Seeking new opportunities for farmers
Recognizing agriculture as an economic cornerstone, USDA is taking steps to develop hemp growers' markets and capacity. Under the new program, farmers will be able to grow hemp in every state.
Permits will be required to ensure fair, safe cultivation. Growers will also need regular THC testing.
Rapid growth in CBD demand and market figures
The United States is already a leader, but new rules are needed to meet rapidly increasing demand. The new legislation is expected to support farmers in meeting it.
Research projects a $20 billion US CBD industry by 2024. The proportion of dispensaries selling CBD products has also risen from 6% in 2017 to 11% in 2018. We should remember that this industry, nearly doubling in one year, is only at its beginning.
