Hemp is in demand for its seeds, fiber, and oil containing the relaxing cannabinoid CBD – but it's also the same plant as marijuana, which remains illegal federally and under varying restrictions in most American states.
Besides an oversaturated market and laborious cultivation process, hemp farmers hoping to profit from the newly legitimized plant say they have had to navigate suspicious police, a legal mandate to burn crops that exceed THC limits, and the problem of theft.It's not easy
CBD, whether sold as a supplement or mixed into food or drinks, has also grown popular, and financial services firm Canaccord Genuity predicts CBD sales will jump 45% to $18 billion by 2024. "When we go to the CBD market, it's 'We'll pay you when we get paid,' which puts us in a problem with our creditors," said David Turner of DC Hemp, who farms in rural Dinwiddie county, Virginia.
Farmers say their real challenge is getting their oil sold. Turner and Corbett both are sitting on gallons of CBD oil, waiting for someone to buy it.
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