Hemp production is done...but that's because production of Delta-8 and Delta-9 don't require much of the plant.
coincided with a spike in popularity of CBD, or cannabidiol, an active ingredient in cannabis that can also be extracted from hemp. Extracting Delta-8 and now Delta-9 from hemp to sell in states where cannabis is not recreationally legal has become a big part of the hemp business.
What led to this overproduction? Hemp is a relatively new industry, and nobody knew how much hemp would be needed to supply the emerging CBD market. “You can create the CBD crude or CBD extract with less acreage than anticipated,” McGuinness notes. “Combined with improvements in extraction technology and other things, it turned out that we planted way too much hemp out of the gate.”
While she says that CBD “is a wonderful, wonderful solution for many, many ailments,” the industry as a whole didn’t understand the relationship between the ingredient and the final product . “We had all these analysts saying the market was going to go up,” she adds. “If you’re talking commodities, that’s like talking about the entire U.S. wheat crop in terms of the price of a bag of flour at Safeway. It’s not right, and it’s misleading.
“The fiber has so many uses,” she explains. “Animal bedding is huge right now. It can be used in building insulation and building materials, and it’s exceptionally carbon-friendly, too.” Hemp grain also works for animal feed.
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