"While the Farm Bill presents exciting opportunities for USA agriculture and the hemp industry, it is still unclear what the final status of CBD will be", said Jordan Friedman, CEO and co-founder of Zodaka, a cannabis payment platform.
The bill on Tuesday passed the U.S. Senate on a 87-13 vote, with a 369-47 vote the next day in the House.
House Democrats walked away from negotiations on the farm bill earlier this year over the SNAP controversy, and even Senate Republicans signaled that they did not want to make substantive changes to the farm bill's nutrition program. "[By] rejecting sensible reforms created to ensure that farm subsidies flow to actual farmers in need - not millionaires and city slickers - this farm bill takes a major step backwards", he said.
The bill offers more flexible coverage for struggling dairy farmers and invests $300 million in prevention and response for animal pests and disease. The legislation also includes an exemption letting farmers already growing hemp under existing research authority continue their operations. The farm bill also provides permanent funding for veteran and minority farmers.
Legalizes the cultivation of industrial hemp.
"I'm very disappointed the conferees made a decision to expand the loopholes on farm subsidies", said Grassley, adding that he expects the bill to pass over his objections.
"It opens up doors that weren't really available before, partly for federal funding, because it was a schedule I substance", Morton said. "For decades, the government hasn't been able to distinguish between the two plants-it's like having a twin brother who breaks the rules, but you get in trouble, too". In North Carolina, more than 500 growers are now licensed to cultivate hemp under a two-year-old research program run by the state Department of Agriculture and N.C. State University. It is headed to President Donald Trump's desk for his signature after getting approved by the House and Senate this week.
"It's the first time in the 30-plus-year history of CRP that farmers are going to have the opportunity to enroll in a short-term, conserving-use program like this one", Thune said. But unlike other commodities, such as soybeans or sweet potatoes, farmers would still need a license to grow hemp, and they'll likely only be available to people with a track record of farming. Canopy Growth Corp., which is backed by alcohol giant Constellation Brands Inc., has been experimenting with field-scale hemp-derived CBD production in Saskatchewan. In anticipation of the passage of this landmark legislation, over the last several months, we have undertaken broad and extensive foundational work to ensure Village Farms can move quickly, aggressively and profoundly. With one of the largest existing greenhouse footprints in the US and a 30-year proven track record as a large-scale, low-priced grower of high-value crops, Village Farms has a formidable platform to capitalize on the hemp and CBD opportunity. States that have already legalized hemp research and pilot programs, including Colorado, Kentucky and OR, will continue operating under their own rules until the USDA finalizes its regulation, according to Vicente Sederberg attorney Shawn Houser.
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