There has been a mad rush for farmers to change their fields to hemp after the 2018 Farm Bill Act was signed in December of last year. With that bill not only did hemp get removed from the tier one controlled substances list, it also allowed farmers to insure their crops with Federal insurance programs. According to CNN Business, the average farm is charging, “$35 to $40 per pound for the high-quality hemp it sells for CBD extraction. That compares to about $1 a pound for the kale it sells.”
It also went on to say, “The price of hemp went up slightly after the Farm Bill was signed. Industry watchers say the price could stay at these levels or inch even higher if supply for CBD doesn’t meet the demand…Last year, just over 78,000 acres of hemp was grown in the US, up from 9,649 acres in 2016.”
Active Botanical Co. sources all of our 100% organic hemp plant material from local famers in Colorado. Can your current CBD supplier say that?