Hemp Regulations
USDA plans to finalize its hemp regulations sometime this fall.
But not soon enough for many farmers and retailers who are struggling to make plans for next year's crops and producers who are reportedly turned down by credit card companies and banks.
Farmers have been hungry for guidance, but the USDA has been cautious about propping up a new industry, citing a need to slow walk regulations that account for a range of issues, like oversupply.
Agriculture Undersecretary Greg Ibach told a Senate panel the USDA wants to give growers research based guidance on growing hemp but there has been..
"Very little research at this point."
And when asked about helping farmers predict the value of a hemp crop compared to another such as corn or wheat...
"We really don't have very good information there either."
He says proposed rules for production of hemp are not fully formed and are circulating between several agencies.
We are unable to comment on the specific rule at this time as it is under inter-agency review"
Colorado on the forefront of the hemp revolution has created the Colorado Hemp Advancement and Management Plan or CHAMP. The plan has partnered the Colorado Department of Agriculture with state, local, and tribal agencies, and industry experts. The partners are working to advance knowledge in hemp cultivation, testing, research, processing, and finding best use practices for finance and economics.
