Exciting news for the hemp industry! The recent extension of the Farm Bill means that hemp will continue to flourish and grow bigger in 2024.
According to a recent article by Rod Kight, an international hemp and cannabis business law attorney, the “Further Continuing Appropriations and Other Extensions Act, 2024” includes a provision that allows the authorities provided by the Agriculture Improvement Act of 2018 (the 2018 Farm Bill) to continue until September 30, 2024.
This extension is great news for the rapidly expanding hemp industry, which is already making waves with its estimated $28.4 billion market demand. It provides a valuable opportunity for hemp companies to further establish themselves and expand their operations both domestically and internationally.
Why is this extension important? Well, it allows the industry to continue progressing and bringing cannabis to people in the US. Additionally, it opens doors for hemp companies to tap into international markets, as hemp can cross borders and many current hemp products meet the standards set by countries with emerging cannabis programs.
But hold on, this doesn’t mean the hemp industry can rest easy when it comes to politics. In fact, it’s more crucial than ever to educate local, state, and national representatives about the importance of hemp and its products. Advocacy and awareness play a vital role in shaping policies that support the growth of this burgeoning industry.
So, while we eagerly await the arrival of the next Farm Bill in the fall of 2024, let’s celebrate this extension that allows hemp to continue thriving and making a positive impact in the world.
Farm Bill extended to 2024-THCa & Weed Still Legal in ALL 50 States | Cannabis Legalization News
(Source: Kight on Cannabis)
cannabusiness.lawcannabusiness.law
Farm Bill Extension Means Hemp Will Grow Big(ger) in 2024 | Kight on Cannabis
In addition to an additional window of time to continue its progress of bringing cannabis to people in the US, the extension will allow hemp companies to expand their sales and operations internationally.
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