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Marijuana growers turning to hemp as CBD extract explodes

Marijuana growers turning to hemp as CBD extract explodes

SPRINGFIELD, Ore. — A glut of legal cannabis is driving Oregon cooking cooking pot costs to rock-bottom amounts, prompting some stressed growers to begin pivoting to a different form of cannabis to create ends meet — one which doesn’t include a top.

Applications for state licenses to cultivate hemp — marijuana’s non-intoxicating relative — have increased significantly more than twentyfold since 2015, making Oregon number 2 behind Colorado one of the 19 states with active hemp cultivation. The quickly evolving market comes amid skyrocketing interest in a hemp-derived extract called cannabidiol, or CBD, seen by many as being a wellness help.

With its purified form that is distilled CBD oil commands thousands per kg, and farmers will make significantly more than $100,000 an acre growing hemp flowers to make it. That distillate could be changed into a form that is crystallized powder.

“Word in the street is everyone thinks hemp’s the gold that is new,” Jerrad McCord stated, who grows cannabis in southern Oregon and merely included 12 acres (5 hectares) of hemp. Read the rest of this entry »