Most of the headlines about the cannabis industry – and there are many – revolve around the ongoing debates over legalization for medical and/or recreational use. And of course, the business news features almost-daily reports of mergers and acquisitions as the industry matures.
So those involved in the side of the industry that deals with hemp production can be forgiven if they feel just a little left out. After all, hemp lacks the psychoactive properties of cannabis, so it’s both less controversial and less enticing in the eyes of many. If cannabis is the sexy sports car, hemp is the minivan.
But it’s entirely possible that in the long run hemp will be an even bigger deal. Even setting aside its long history as a source material for everything from paper to biodegradable plastics to biofuel and animal feed, hemp is the primary source of CBD products, the benefits of which are just beginning to be understood.
And in a huge bit of news that flew mostly under the radar, hemp production was legalized at the federal level in the Agriculture Act of 2018 (it didn’t fly under our radar; read our post about it here). We expect the hemp market to blossom over the next few years as farmers discover its value as a replacement crop, especially in the wake of declining revenues from tobacco and a spike in demand for CBD products.
So if you’re a hemp grower and you’re feeling ignored, we’ve got your back. Though the spotlight may generally shine elsewhere, we’ve kept you in mind as we’ve developed our PlanTR™ software for growers.
PlanTR™ will help you streamline your resources, optimize your costs and maximize your crop yields with feature like RFID plant tracking, plant lifecycle information and cost analysis, and a full suite of grow analytics to give you environmental feedback that will boost your revenues.