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CBD Prices Languish as KSU Studies Using Hemp in Feed
John Lothian News
It has been quiet lately in hemp country – which, since the 2018 Farm Act, of course, includes all 50 states. In fact, industrial hemp plantings were reported to the USDA’s Farm Service Agency by farmers in 48 states in 2020 (Alaska and Mississippi didn’t come to the party).
PanXchange’s January 2021 Hemp: Benchmarks & Analysis data show that prices for hemp at various stages of processing for CBD continue to soften, while both conventional and organic hemp grain prices rose (10% and 2%, respectively) over the month as consumers pay the market for storage as they would with other grain crops.
The one bright spot reported by PanXchange for CBD Hemp is in the continuing strong demand for smokable CBD flower which seems to be occurring despite increasing restrictions. Both Indian and Iowa have banned smokable CBD products. Indiana’s ban was challenged in federal court which upheld the state’s right to ban the product. Smoking CBD is probably riding on the coattails of the widening legality of marijuana for both recreation and medication. The nascent smokable CBD industry appeared to be giving up hope that the FDA would regulate its usage, thus lending it a measure of respectability. President Biden’s FDA is an unknown actor with regard to CBD policy.