By now you’ve likely heard the news that the Hemp Farming Act of 2018 was passed by Congress and was earlier this month, signed into law by President Trump as part of the 2018 Farm Bill. But what does that really mean for you, the customer?
If you want to read the full bill (be careful though, it’s a thick one) you can find it here. Essentially this bill did a few things:
- Removed Hemp from the list of of Schedule 1 Controlled Substances
- Declared industrial hemp an agricultural commodity and not a controlled substance
- Set the stage for the DEA to reconsider their stance on how hemp and CBD are treated
In short, this bill did more for growers of hemp as opposed to consumers. However, these new opportunities given to farmers will be passed down to the consumers in the form of future cost savings. Hemp farmers are now afforded the same rights as traditional farmers such as riparian water rights and the ability to request federal agricultural grants. These rights can be huge for farmer’s margins in an industry that is traditionally bootstrapped to begin with.
Senate Majority Leader Mitch McConnell was one of the main proponents of the law as he hopes that hemp can start to replace the demise of Kentucky’s oldest cash crop- tobacco. A healthy, non-addictive, alternative to cigarettes? We’re here for it!
The Hemp Farming Act of 2018 will now allow more farmers to enter the market and the cost savings created by an increases in supply will be passed onto consumers. At Hemp Crate we can’t wait to pass these cost savings directly onto you through our monthly subscription boxes