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Despite prohibition, the U.S. is already home to an active and thriving hemp industry, although much of it is confined to individual states because of the laws. Legalization means that U.S. farmers will now be able to grow the crop, and existing hemp companies will be able to expand unabated and undeterred by the potential for federal intervention.
Among those sources, Lanier considers Colorado to have the most robust hemp program. The state’s agricultural program performs spot-tests of hemp plants while they are still in the field to check THC levels and will investigate the potential use of any illegal pesticides based on complaints. (Note that the 2018 Farm Bill, now in Congress, may make it easier for farmers to grow hemp and expand the number of states where it is grown and tested.)
In terms of price, Hempworx is actually a tad bit cheaper than the majority of the leading CBD oil brands in the U.S. As we went over in the Hempworx product reviews, their 500 mg (15 mL) oil sells for $69, which is just a hair less than our favorite brands (we won’t mention any names in particular for fear of turning this into a “brand pitch,” but you can check out this article if you want to know which brand specifically we’re talking about).
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Much work still needs to be done with the general public, farmers and our elected officials about the nutritional, industrial, environmental and medicinal benefits of hemp. As laws change, research is conducted and commercialization begins, sharing information will be vital to ensure the hemp industry thrives. NHA is committed to advancing this awareness and knowledge.
It didn’t take long after U.S. consumers accepted kale as a superfood for the leafy green to take off. The same thing could easily happen to hemp seeds once more American farmers are allowed to cultivate and sell the crop. For perspective on the potential business opportunity, consider that Canadian farmers exported $45 million worth of hemp seed to the U.S. in 2016, making as much as $300 per acre, per season, farming industrial hemp. That’s five to 10 times as much as what our farmers in the Midwest are currently making for growing GMO wheat, corn and soy.
Unlike some producers of CBD, Fuentes and Barroso never intended to grow their own hemp, which was outlawed in Florida when they began anyway. At the time, Barroso says, it was almost impossible to buy an oil containing only minimal amounts of THC. It's easier now, but supply can still be tricky: "We can't always get 10 55-gallon drums of oil," he says. Green Roads products use a blend of four to five different cannabinoids, using both oils and isolates (concentrated CBD extract in the form of a powder), designed by Fuentes.
And now that the updated U.S. Farm Bill has been passed which more or less legalizes hemp, we can expect to start seeing more and more very high quality CBD oils hit the American market in the coming years. HempWorx has been around for awhile, and they’re simply doing what they can from a business perspective in order to gain a foothold in the industry. In our mind, this should not take away at all from the quality of their products.