Cannabis Investors Should Know the Difference Between Marijuana and Hemp – Cannabis Business Executive

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Canada, France and China are the leading manufacturers of industrial cannabis in the U.S. today. Yet our nation has seen a dramatic increase in hemp farming across the entire continent.

Research and Markets estimates that the global industrial hemp market will reach $17.4 billion by 2027, up from $5.6 billion in 2020.

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As a people, we have been using hemp for more than 10,000 years. There were traces of it found in Asia as early as 8000 B.C.

The forefathers of this country used hemp. The Constitution and the Declaration of Independence were written on hemp. The first 4 presidents grew their own hemp. Benjamin Franklin was a hemp farmer in Kentucky.

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Hemp is excellent for revitalizing and improving the soil. It has always been a rotation crop of choice — even for farmers who weren’t farming for hemp on a regular basis.

England considered it a high crime should any of the original U.S. colonies refuse to grow hemp as a staple crop for the crown. People used hemp to pay their taxes. They used it as living currency. During World War II, it was even said that farming for hemp was a patriotic duty!

Every Good Story Begins With a Dilemma

By the 1930s and ’40s, those who stood to lose the most from the manufacturing of hemp and marijuana launched flagrant propaganda and rampant smear campaigns. Families like the DuPonts and Rockefellers feared competition against their own industrial products, refusing to compete against the farmers who relied on it for a living.

The Marijuana Tax Act of 1937 soon came along and essentially blocked the right to farm it altogether. The Controlled Substances Act of 1970 labeled it as a controlled substance. [Read More @ USA Today]

 





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