Virginia Hemp: A “Gold Rush” Mentality And Unknowns

Industrial hemp grown for CBD. Photo: Kansas State University

As the U.S. Department of Agriculture finalized hemp production regulations, Virginia growers were being cautioned about an increasingly saturated market.

The public has until Jan. 29 to comment on interim final regulations, including licensing, maintaining information on land where hemp is grown, complying with procedures and provisions, testing THC contents and handling policy violations.

Although many of the regulations remained unclear through the first full year of legal hemp growth in 2019, registered hemp acreage boomed from 78,176 acres in 2018 to 511,442 acres in 2019. With a market expected to surpass $10 billion by 2025 and regulations being put in place by the USDA, that trend is expected to continue.

“It’s estimated there’s about 80 times the amount of CBD and hemp than the market needs,” noted Tony Banks, senior assistant director of agriculture, development and innovation for Virginia Farm Bureau Federation. “We’re probably going to see these markets evolve in the next four or five years, and these tremendous grower and processor numbers are going to diminish as soon as this gold rush ends.”

Of the 1,142 licensed hemp growers in Virginia, Banks said the majority are growing for CBD oil. In line with national trends, Virginia moved from 135 planted acres of hemp in 2018 to 2,244 acres in 2019.

CBD is on the list of several compounds called cannabinoids found in the cannabis plant. Many research studies have been done to find out different therapeutic uses of this oil.

Cannabidiol, commonly known as CBD, is one of the fastest growing products and industries growing today. But what exactly is CBD and is its purified isolate form something you should be considering? First, let’s look at why people take CBD.

Derived from Hemp or Marijuana, CBD contains no THC meaning that it does not get you “high” or “buzzed” in any way like Cannabis does. This means that you can get all of the benefits of medical marijuana without actually having to consume a substance that has psychoactive properties. This is one of the reasons it is growing so quickly in popularity globally, it does not get you high but you get the benefits nonetheless. You can Buy the best full spectrum CBD oil here.

Why is CBD consumed? There is still much research ongoing regarding its efficacy for a variety of different chronic illnesses and ailments but the current verdict is promising. CBD is taken regularly by patients suffering from: chronic pain, anxiety/depression, trouble sleeping or insomnia, as an appetite stimulator, to name a few. It is growing in popularity, especially in the United States, where the opiate epidemic has been largely caused by powerful prescription narcotics patients take to manage pain. CBD allows you to manage pain with no risk of addiction or death due to overdose. It works because CBD also reduces inflammation a major cause of join pain and other forms of chronic pain.

Basically, CBD oil contains concentrated form of CBD. However, it’s important to keep in mind that the concentrations and their uses vary. So, you may want to consult an expert before using CBD for your condition.

All types of cannabinoids attach to some specific receptors in your body to create a special effect. And the same applies to CBD as well. Actually, your body produces some types of cannabinoids automatically. Also, it has two powerful receptors for CBD. If you want to get a cbd oil, you can find this product at 1Team Cannabis Co.

As far as CB1 receptors are concerned, they are found across your body. However, many are found in your brain as well. The ones found in the brain help with memories, appetite, thinking, mood, emotions, pain, movement and many other functions. And these are the receptors THC attaches to. On the other hand, CB2 receptors are quite common in your immunity system, and they have an impact on pain and inflammation.

In the past, researchers believed that CBD2 receptors are the receptors that CBD attaches to, but now they know that CBD won’t attach to any of the receptors. In fact, it looks like it helps your body get better use of its own cannabinoids.

He added that some estimates show growers could realize revenues of $10,000 to $15,000 per acre for producing hemp for CBD softgels for sale. However, the Food and Drug Administration has approved CBD softgels as safe for food, animal feed or dietary supplements.

Banks noted that the market has benefitted from programs that streamline hemp seed certification and THC testing procedures. As markets level-off, he anticipates a shift away from the current “Wild West atmosphere” of speculation and overproduction.

“Farm production of hemp is going to become specialized,” Banks said. “If this crop makes a go of it long-term, some company or buyer is going to source hemp with specific characteristics for a specific end use. For the majority of hemp growers, it’s going to be like contract poultry or hog productions. You’re growing for that specific market and that specific buyer, and that’s going to be it.”

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