In 2017, hemp rates were very low in America. Mainly due to the illegality of cannabis and the judgement put on all cannabis derived products by the nation as a whole. People shunned the plant and research was not being conducted as much or at all. In 2018, however, hemp rates increased by about three-fold. This is of course all before the Farm Bill of 2018 seeing as the data was over the full year and legislation of the bill began in December. Knowing this, can you imagine the amount of hemp being grown now compared to 2017?
Homegrown Hemp Rates
Here’s a little bit of data from the hemp rates in the United States. There were about 25,713 acres dedicated to hemp farming in the year of 2017. That number tripled over the next year when more farmers became licensed through Trump’s plans. This brought the hemp acreage to about 78,176. Now these numbers have a marginal difference. According to the Hemp License Report from Vote Hemp, acreage of hemp farms has risen to an unbelievable amount of 511,452 acres. This increase is acreage is twenty times more than what was being used in 2017.
Hemp Rates Keep Rising and Rising
As hemp becomes more and more popular, the acreage is going to continue to increase. Within less than a year of hemp being nationally legalized and after well more than 15,000 state growers being licensed, this industry is every on the rise. These numbers are going to get bigger and bigger as the market for hemp and its derivatives are booming. CBD (cannabidiol) is the derivative that many millennials are after and this hemp plant is the goal. THC (tetrahydrocannabinol) percentages must remain less than .3% as long as the hemp remains legal. Once the Food and Drug Administration decides the constraints on CBD, we’ll have a much broader range of products being made from hemp.