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Our speaker last week was Krystal Snyder from the Penn State Extension. Krystal provided an extensive and very informative presentation on the Hemp industry and the continuing evolution. As the legal use of marijuana and other cannabis products grows, consumers are becoming more curious about their options. This includes cannabidiol (CBD) and tetrahydrocannabinol (THC), two natural compounds found in plants of the Cannabis genus. CBD can be extracted from hemp or from marijuana. Hemp plants are cannabis plants that contain less than 0.3 percent THC, while marijuana plants are cannabis plants that contain higher concentrations of THC. CBD is sold in the form of gels, gummies, oils, supplements, extracts, and more. THC is the main psychoactive compound in marijuana that gives the high sensation. It can be consumed by smoking marijuana. It’s also available in oils, edibles, tinctures, capsules, and more. Both compounds interact with your body’s endocannabinoid system, but they have very different effects. (I find it interesting the .3% is an arbitrarily determined limit established by the government.) There are many commercial applications as Fiber, Seed, Flower/Plant Extracts and Paper & Pulp. The 2018 Farm Bill removed industrial hemp from the Schedule 1 Narcotics list. Although industrial hemp is now federally legal to grow and possess, each state can and will impose their own regulations and policy. There are also numerous risks associated with hemp production: unknown quality of plants, seed; drought or excessive moisture in the 3 weeks following planting, storage needs, etc. Additionally there are the interstate transport questions, government regulations and not mention if you have an unexpectedly high THC in your crop it has to be destroyed! Should be an interesting story to follow.... contact Krystal Snyder kls6950@psu.edu 610-813-6619 @KrystalS_83 to learn more. Thank you Krystal. Business of Cannabis SymposiumMar 11, 2020 8:15 AM The cannabis industry has seen significant growth in recent years as businesses and consumers are realizing the benefits of medical marijuana, CBD and industrial hemp. The increasing level of demand has brought about opportunity and jobs for entrepreneurs. The Council for Retail and Sales (CRS) will explore these opportunities in their upcoming educational symposium titled the Business of Cannabis. Industry experts will delve into all aspects of the cannabis industry such as legal and human resources, marketing and branding, banking and financing, retail layout and more. |
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