The U.S. Department of Agriculture (USDA) announced on Thursday that it is launching a weekly newsletter to provide \u201cunbiased, timely, and accurate data\u201d on the hemp industry.<\/p>\n
The first edition of the National Hemp Report from USDA\u2019s Agricultural Marketing Service (AMS) was released in concert with the announcement.<\/p>\n
The report features information about weekly retail advertised prices for hemp products, in addition to import volumes and the values of hemp commodities that enter the U.S. for the week and year-to-date.<\/p>\n
\u201cUSDA has recognized the hemp industry\u2019s need for timely market information,\u201d USDA Under Secretary for Marketing and Regulatory Programs Jenny Lester Moffitt said<\/a> in a press release. \u201cThe National Hemp Report will equip stakeholders with weekly price and volume information to help guide smart business decisions.\u201d<\/p>\n This is first time that USDA has released a market report \u201cdedicated solely to this new commodity group,\u201d and the department said it will \u201cexpand in the future to include additional market information pending ongoing industry engagement.\u201d<\/p>\n The new cannabis crop report joins national ones that already exist for honey and specialty crops, and local reports dealing with commodities like pecans, apples and cut flowers.<\/p>\n For this week\u2019s report<\/a>, USDA said that retail ads for hemp rose, \u201cwith a 79 percent increase from last week and a 493 percent increase over the same week last year,\u201d for example.<\/p>\n This development comes about a week after USDA started sending out thousands of surveys to hemp farmers<\/a> across the country as part of its annual effort to learn about how the market has evolved since the crop was federally legalized under the 2018 Farm Bill.<\/p>\n USDA\u00a0launched its first annual survey in 2021<\/a>\u00a0and\u00a0released a report detailing the results<\/a> the following year. The questionnaire has since been revised to \u201cimprove data quality and reduce respondent burden,\u201d USDA\u2019s National Agricultural Statistics Service (NASS) said.<\/p>\n In 2020, USDA announced plans to distribute a\u00a0separate national survey to gain insights from thousands of hemp businesses<\/a>\u00a0that could inform its approach to regulating the industry.<\/p>\n That survey launched in partnership with National Association of State Departments of Agriculture and the University of Kentucky. The department said it wanted to learn about \u201ccurrent production costs, production practices, and marketing practices\u201d for hemp.<\/p>\n Meanwhile, USDA announced last month that it is delaying enforcement of a\u00a0rule requiring hemp to be tested at laboratories<\/a>\u00a0certified by the Drug Enforcement Administration (DEA) due to \u201cinadequate\u201d capacity of such facilities.<\/p>\n The DEA laboratory testing requirement will not go into effect on January 1 as originally planned. At earliest, the industry-contested rule will go into force on December 31.<\/p>\n Agriculture Secretary Tom Vilsack\u00a0gave final approval to a broad federal rule<\/a>\u00a0laying out regulations for the hemp industry in 2021, despite the outstanding concerns from advocates about certain provisions.<\/p>\n The agency has separately taken also steps to\u00a0improve insurance policies for hemp businesses<\/a>, making them more flexible in response to stakeholder feedback.<\/p>\n USDA has made several moves to align hemp insurance policies with those of other lawful crops since the plant was federally legalized, consistently seeking out input from stakeholders as the industry matures.<\/p>\n In 2020, for example, the department made it so hemp farmers\u00a0can qualify for Multi-Peril Crop Insurance<\/a>, in addition to\u00a0several other coverage programs for which the crop is now eligible<\/a>.<\/p>\n USDA said in 2021 that it was\u00a0teaming up with a chemical manufacturing company<\/a>\u00a0on a two-year project that could significantly expand the hemp-based cosmetics market.<\/p>\n Meanwhile, on the same day of the USDA weekly newsletter announcement, the Food and Drug Administration (FDA) said that it will not be creating rules to allow the marketing of CBD<\/a> as dietary supplements or food items, leaving the massive industry without regulations despite repeated calls for administrative action from lawmakers, advocates and stakeholders.<\/p>\n Following a \u201ccareful review\u201d of the non-intoxicating cannabinoid, FDA said it reached the conclusion that the existing regulatory pathways that are in place for other dietary supplements and food additives will not work for CBD. Instead, the agency said that wants to \u201cwork with Congress on a new way forward.\u201d<\/p>\n FDA Announces It Will Not Issue Rules To Allow CBD As Dietary Supplements Or Food Items, Punting To Congress For Regulations<\/a><\/p>\n<\/blockquote>\n\n The post USDA Launches First-Of-Its-Kind Weekly Hemp Market Report To Support Evolving Industry<\/a> appeared first on Marijuana Moment<\/a>.<\/p>\n
The U.S. Department of Agriculture (USDA) announced on Thursday that it is launching a weekly newsletter to provide \u201cunbiased, timely, and accurate data\u201d on the hemp industry. The first edition of the National Hemp Report from USDA\u2019s Agricultural Marketing Service (AMS) was released in concert with the announcement. The reportContinue Reading<\/a><\/span><\/p>\n","protected":false},"author":458,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18,81],"tags":[],"_links":{"self":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/61230"}],"collection":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/users\/458"}],"replies":[{"embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/comments?post=61230"}],"version-history":[{"count":1,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/61230\/revisions"}],"predecessor-version":[{"id":61231,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/posts\/61230\/revisions\/61231"}],"wp:attachment":[{"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/media?parent=61230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/categories?post=61230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannabiscultivatornews.com\/home\/index.php\/wp-json\/wp\/v2\/tags?post=61230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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\nRead More: USDA Launches First-Of-Its-Kind Weekly Hemp Market Report To Support Evolving Industry<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"