SPRINGFIELD, Ore. (AP) — A glut of legal cannabis is driving Oregon cooking pot rates to rock-bottom amounts, prompting some stressed growers to start out pivoting to some other variety of cannabis in order to make ends meet one that is does not include a top.
Applications for state licenses to cultivate hemp — marijuana’s cousin that is non-intoxicating have increased significantly more than twentyfold since 2015, making Oregon No. 2 behind Colorado on the list of 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 people being a wellness help.
With its purified distilled form, CBD oil commands thousands per kg, and farmers will make a lot more than $100,000 an acre growing hemp flowers to create it. That distillate could be changed into a form that is crystallized powder.
“Word regarding the road is everyone believes hemp’s the gold that is new,” Jerrad McCord stated, whom grows cannabis in southern Oregon and simply included 12 acres (5 hectares) of hemp. (more…)