CityPages author Keith Schubert took a deep dive into Minnesota’s growing CBD market in his piece titled: “Minnesota’s new untested miracle drug: What CBD can do for you (maybe).”
There’s many excellent consumer anecdotes and the whole story is worth the read, but a couple items really jumped out:
Prior to that passage, both hemp and marijuana had been considered Schedule 1 drugs. Minnesota came around to hemp almost as slowly as the feds, with a closely overseen industrial pilot program approved in 2015. In its first year, the program had seven applicants and six growers. So far in 2019, there have been 310 applicants, 200 growers, and 110 processors, according to MDA data.
Emphasis added above due to the enormity of growth that took place in Q12019. At the end of 2018, allegedly somewhere around 50 growers were approved by the state Department of Agriculture. If true, that’s a growth of 300% in a single quarter, due principally to the passage of the Farm Bill, legalizing hemp. Read more about the Farm Bill’s impact here: //canna.mn/2018/10/13/farm-bill/.
To date, all Minnesota growers have been strictly outdoors, however we are now seeing an influx of year-round operations:
The dramatic increase strongly correlates to the increasing popularity of CBD, according to Margaret Wiatrowski, a program director with the Minnesota Department of Agriculture. More people are also interested in growing hemp, mostly for CBD, indoors, where the plant can blossom year-round. In the first two years of the hemp pilot project, there weren’t any indoor hemp operations. This year the figure will be a proposed 450,000 square feet.
Again, emphasis added above to show the growth in our state’s industry, mimicking more mature states who have a plethora of indoor operations, typically growing more high-strain CBD, requiring additional TLC.
Lastly, no need to state the obvious, but for the avoidance, the influx of operators is largely related to this stat:
Farmers can make up to $90,000 per acre of CBD-focused hemp, Wiatrowski says.
There’s no doubt the farming sector has suffered in recent decades. Here’s hoping that hemp brings in a new wave of profits for farmers statewide.