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Thailand in green rush as government pushes Thai cannabis as cash crop

Thailand in green rush as government pushes Thai cannabis as cash crop

Thailand cannabis could become a major economy booster

BURIRAM, Thailand (Reuters) – Thais flocked to a cannabis exhibition as interest and demand in the plant surges after the government unlocked hemp use in food and cosmetics in the latest move to promote a new cash crop.

The government held a convention in Buriram province in northeastern Thailand over the weekend to educate the public on cannabis use and promote businesses. People were able to taste hemp-based noodles, ice-cream and drinks.

Hemp plants are a variety of cannabis that have higher concentrations of CBD, the non-psychoactive ingredient in marijuana, and lower levels of tetrahydrocannabinol (THC).

“Ganja (marijuana) is the rising star to bring our good quality of lives and money back in our purses as good (economy) as before and even better,” said Withid Sarideechaikoo, director of Buriram public health and organiser of the Cannabis 360° event, referring to the plant’s local name.

“It will bring good quality of lives to us and to the country.”

Thailand has been pushing cannabis as a cash crop and state drug maker the Government Pharmaceutical Organization has said it would buy a kilogram of cannabis with 12% CBD, the non-psychoactive ingredient, for 45,000 baht ($1,500).

A group of seven individuals could form a village enterprise and seek government permission to grow hemp.

Thailand, which has a tradition of using cannabis to relieve pain and fatigue, legalised marijuana for medical use and research in 2017 to boost agricultural income.

“It is in Thais’ mindset that delicious noodle soup with beef should added with ganja,” said noodle shop owner Sitthichan Wutthiphonkun.

“This thing (cannabis) will not only boost our restaurant business, but it will drive the whole economy. People will want to try it from food to cosmetics.”

(Writing by Chayut Setboonsarng, editing by Ed Osmond)

Original story from Yahoo Finance

Hemp Industry Win: Farmers Might Finally Get Bank Access

Hemp Industry Win: Farmers Might Finally Get Bank Access

Banking has been an issue for cannabis and hemp businesses alike due to federal banking restrictions for years. But for hemp, that all could be changing very soon.

It’s safe to say that the hemp industry and cannabis industry don’t have the best relationships with banks. Because most banks are federal institutions, they have to follow federal law. This is why despite cannabis being legal in multiple state, businesses have a lot of difficulty finding a bank that will work with them.

While this will remain the case for the cannabis industry unless the SAFE Banking Act passes, the legal hemp industry has achieved another milestone in regards to banking for legal hemp businesses.

Hemp Industry Banking

Currently, the banks that actually work with legal hemp businesses could be counted on one hand. Due to strict requirements that come with loads of paperwork, most banks just avoid hemp businesses all together. But that is all about to change.

Federal and state bank regulators announced Tuesday that they were scrapping a burdensome requirement that banks said kept them away from the hemp business. With the requirement scrapped, banks no longer have to treat their hemp customers as suspicious and file reams of paperwork to anti-money-laundering authorities for each interaction.

In other words, with less paper work and red tape surrounding the legal hemp industry, banks are about to feel a lot safer about working with hemp businesses. And it’s not like the demand isn’t there either.

In November of 2019, the American Banking Association surveyed 1,800 agriculture-focused banks in the country and found that almost half had gotten questions from their farmer-customers about whether they would still do business with them if they started growing hemp.

Hopping on a moving train

Banks have been sitting on the sidelines of the legal hemp industry and legal cannabis industry for a while now, and the industry has progressed just fine without the financial institutions up to this point. Even though banks have been slow to embrace the cannabis industry, investors have been geared up to profit from it.

Analysts tracking publicly traded companies have added pot producers to their portfolios, in order to help investors decide where best to maximize their exposure to the industry. Ultra-rich venture capitalists have begun to treat pot businesses like tech start-ups. While some stocks have had their hiccups, the industry is looking strong and projected to continue growing through 2020 and beyond.

While banks have been slow to get onboard the legal hemp industry train, hemp businesses will likely be happy to work with them now that the requirements have been lessened. Even though hemp flower producers may still find it difficult having a product so similar to federally illegal cannabis, other businesses in hemp clothing and manufacturing should start finding it much easier to find a bank that will work with them.

Is cannabis banking next?

The hemp industry is making strides on strides in terms of legalization and banking access, whereas legal cannabis industries have been inching along slowly year over year. Progress has been exponential since Colorado first legalized in 2012, with multiple states following suit in the years after. But with federal law remaining the same regarding cannabis, progress has been slow with legal cannabis businesses still lacking banking access, despite state law.

The SAFE Banking Act is currently the best hope legal cannabis businesses have to achieve banking access in the near future. While the bill has already passed through the House of Representatives with large support from the banking industry. However not many are hopeful of the bill surviving the republican controlled senate headed by Mitch McConnell.

The irony of the whole situation is that McConnell is largely responsible for the passing of the 2018 Farm Bill the federally legalized hemp across the country, yet he will also be the reason that legal cannabis businesses may not get the access to banks they desperately need. Only time will tell, and for, all the wires are silent.

First Year of Industrial Hemp: Is it Booming or Bust?

First Year of Industrial Hemp: Is it Booming or Bust?

Millions of pounds harvested. Tons of CBD extracted. But the market might not be ready for so much industrial hemp.

There was no shortage of farmers ready to make the switch to industrial hemp after the Farm Bill passed at the end of 2018. Many were looking for a new cash crop that they could get in on to make some real money.

The beginning of 2019 and outdoor grow season was an exciting time for just about everybody involved. More states passed legislation over time establishing their own ground rules for industrial hemp, and farmers licensed up, cleared out their land and made the transition.

The Industrial Hemp Boom

The mass migration of farmers and traditional cannabis cultivators to industrial hemp led to a massive increase in production. Everything from hemp seeds and hemp flower to CBD extracts and the plant’s fibers were all the sudden in extremely high demand. So much so that just about every dispensary, smoke shop and even gas stations started selling CBD products on their shelves.

Sales exploded with more and more articles vouching for the medicinal benefits of CBD and the potential financial gains the industrial hemp industry could provide the country. On top of the media exposure, plenty of celebrities hopped on the CBD band wagon, with actors and athletes alike sponsoring and being sponsored by CBD companies, and some even creating their own.

CBD is the first real aspect of cannabis to break into the mainstream, and even be celebrated on a massive scale. Recreational cannabis pales in comparison to the international attention CBD has received just in the last 12 months. But with any new industry that takes off sprinting from the gate, there are going to be some trip-ups.

The Industrial Hemp Bust

While industrial hemp production was regulated on the state level, there is very little regulation in the way of CBD production, and barriers to entry were (and still are) extremely low. The lack of regulation allowed a lot of untrustworthy and potentially dangerous products out into the market. While the producers of these products made a pretty penny, the consumers soon started to learn of the risks of bad CBD products.

A lot of shady CBD manufacturers got in, sold their bad product made from poorly grown “biomass” and got out with their money. There was an industrial hemp seed deal in which the buyer was promised feminized seeds but received more than half male seeds, resulting in a multi-million dollar law suit.

As the hemp harvest season came to a close, a lot of farmers were hit with a massive reality check; too many people are growing hemp. Farmers brought their hemp to auction, some hauling thousands of pounds hundreds of miles in the hopes of getting a big chunk of change in return. Almost every single farmer at the auction left without a sale.

The overflow of product, both in biomass and CBD extract has led to a crash in the price as supply for outweighs demand. While the consumer may benefit from lower prices, many farmers who were hoping the industrial hemp would be the answer to their financial problems are starting to second guess their decision.

What Does 2020 Hold for Hemp?

The industrial hemp industry is due to have some fat trimmed. A lot of farmers are going to ditch hemp after an unsuccessful harvest and go back to their traditional row crops. As consumers learn about unreliable CBD products, the shady companies will drop off, and very few might step up and raise their standards.

Farmers with the right connections that were able to secure deals ahead of harvest made a lot of money this year, and it’s only going to increase in 2020. Hemp genetics and seed breeding is going to become more of a desired job title, and more cannabis breeders will begin adding hemp to their repertoire. 

Overall, while many did not have a successful year with legal hemp, just as many did. Industrial hemp will keep expanding into different forays of the plant’s abilities, like using its fibers to create concrete, clothing, paper and more. While some states have made a push against it, smokable hemp flower is also getting bigger as people look for a cannabis alternative that still provides medicinal benefits without the THC high.

Frankly, the possibilities of hemp, just like cannabis, are nearly endless. We can only look forward in excitement and enjoy the ride!

Top Tips for Growing Hemp

Top Tips for Growing Hemp

At the time of recording for this episode, outdoor planting season is just a couple weeks away. But when it comes to growing hemp, you can’t treat it like any other row crop.

If you’re in Colorado, you may have a little extra time before your plants are ready to move outside. For most of the country however, Mother’s Day weekend is also planting time.

Hemp is a durable plant. There’s a reason it was given the nickname “weed” back in the day. It would grow almost anywhere if a seed was put in the ground. But we’re not just trying to sprout feral hemp anymore, we’re trying to grow top-tier, CBD rich hemp.

From picking between clones or seeds to the gear you need to get ahead, this week’s episode of The Real Dirt has you covered.

Plan Your Plant

Consider this: hemp and cannabis are the same thing, just slightly different species genetically. But hemp is not grown the same way as cannabis, although it can be when grown indoors.

Farming isn’t easy, and if you’re trying to grow industrial hemp on a large scale with little to no field crop experience, you’re in for trouble. With cannabis, you’re planting a few plants into their own pots on a relatively small plot of land. Hemp on the other hand can cover acres and acres, and staying on top of thousands of plants isn’t easy.

From planting too early and getting hit with the final frost in Colorado, to running out of water halfway through the season because you weren’t prepared, lack of preparation can be the end of your hemp grow before it even starts. This is why it’s essential that you check the weather regularly to ensure you don’t plant at a bad time, as well as ensuring you don’t end up running short on supplies.

It’s always better to over-prepared and have some left over than to run out and lose your plants.

Irrigation is ESSENTIAL

The bigger your field, the more water it will need. Unless you have a massive staff that ensures each plant gets watered every day, you’re going to need irrigation.

It is the more expensive option at first, but it pays itself off quick. Instead of hand watering each plant, spending hours on one task in the field, all you need is a reservoir and drip-lines connected to it. After a little education and a couple hours of set up, you’ll be able to save hundreds of hours you’d otherwise be spending watering.

Frankly, even if you have a smaller hemp grow indoors or outdoors, irrigation can still be extremely useful. One of irrigation’s biggest benefits is that it removes the risk of human error and overfeeding.

Quality of Genetics

You can do everything right and still end up with a poor quality product. If you don’t strive to find and use quality genetics, you will fall behind the competition. With the legal hemp industry still so young, it can be very difficult for farmers transitioning into the industry to know where to look for quality genetics.

As these first few seasons of growing hemp come and go, people will breed some pretty great hemp genetics. Services like the International Hemp Exchange are one of the main companies connecting breeders to buyers, but just like the cannabis industry early on, you’ll either get your genetics through your growing circles, or pay a hefty price for quality.

In This Week’s Episode

Jacob Sarabia is the head of sales for Cultivate Colorado, the largest grow store in the country, as well as an avid cannabis grower and connoisseur. He’s also gotten into growing hemp over the last year.

In this week’s episode Chip and Jacob puff on a couple joints while they talk about their experiences with hemp so far, the techniques they’ve picked up, how growing hemp is different from growing cannabis and more.

If you want some professional advice on growing hemp that stands out, listen to the episode now.

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Everything You Need to Know About Growing Hemp in Alabama (Pt. 2)

Everything You Need to Know About Growing Hemp in Alabama (Pt. 2)

At this point you’ve already decided whether or not you’re growing hemp from seed or clones. Now it’s time to get it planted.

Over 150 farms have already been approved to start growing hemp in Alabama. A lot of them are going to fail.

Why?

Because they’re going to treat hemp like any other row crop.

Planting and Caring for Hemp

In Alabama you should plant at the end of May through the first week ofJune with 2000 to 4000 plants per acre. It is best to sew directly into the ground, however many people find success by using automated plug planters. These planters allow you to plant clones and seeds in a root plug.

Bigger is not better. It’s best to grow plants that are under 5 feet tall and spaced appropriately where they still touch. Your hemp fields should look more like a corn or wheat field than your traditional ganja plant.

To put it simply: It’s all math.

Smaller plants are easier to harvest, easier grow, and don’t require staking. Larger plants require staking, more water, and more nutrition. If you have the land, it’s much better to plant more acres out than less plants. If you choose to grow large plants you will absolutely eat up all your profits and harvesting.

It’s easy to calculate the weight of a field. A foot-tall plant at a density of 2000 plants per acre will yield 2,000 to 4,000 pounds in acre. If you plant with a greater density of 4,000 plants per acre, you will be able to use mechanical harvesting techniques for easier collection. Bean pickers are already being used to harvest hemp throughout the country. You just need more plants per acre for it to be worth your while.

Best Hemp Practices

On a very small scale of 1 to 10 acres, it’s easy enough to plant your seeds or clones by hand. Anything bigger than that and you’ll either need a lot more hands or a mechanical planter.

Hemp clones and seeds require water to grow. They grow best in irrigated fields, however I have been to dozens of hemp fields throughout the country that don’t have irrigation and just rely on God‘s grace and the the rain.

Cross your fingers and it could work out great for you.

For guaranteed success, supplemental irrigation is essential. With any irrigation technique, hemp plants will suck up the water you give them. It is important for them to be in well-draining fields so they don’t get overwatered. You’ll also need to fertilize your fields.

That’s right Hemp requires fertilization. Smart farmers test the soil prior to planting and apply the appropriate supplements. Hemp mostly needs added nitrogen and calcium. You can apply this with all the traditional means from chickenshit to gypsum, ammonium nitrate to calcium nitrate.

Harvesting Your Hemp

growing hemp and harvesting hemp in Alabama

Harvest can be a confusing component of hemp cultivation.

You can begin harvesting your hemp for extraction as soon as your plants’ CBD levels have started to reach their peak. This occurs approximately 35 days after your initial flower set.

This translates to a harvest in mid September to late October. Since we are mostly harvesting hemp for its CBD component and not its THC component, we have a wider latitude for harvesting.

Lastly, it is smart to invest in at least one or two chemical analyses of the CBD. The best time for testing is between three and six weeks into flower. This will give you a gauge of your harvest times and periods for next year as well.

While it might seem relatively simple, nobody has ever grown hemp on the scale that the US is about to begin growing. There will be a lot of problems that farmers across the country will have to combat. In different states with different climates, different problems will arise for the growers there. But now that it is a legal industry with unlimited potential, and with the help from social media platforms and podcasts like The Real Dirt, the answers to these problems will be much easier to find than they are now.

Learn more about hemp in Alabama specifically on The Real Dirt Podcast. And join our Real Dirt Alabama Facebook Group for news exclusive to Alabama, grow tips and more.

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