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Why Hemp Inc (OTCMKTS:HEMP) Is Delighted?

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Hemp Inc (OTCMKTS:HEMP) is excited of the development that several states across the country are in favor of passing legislation to encourage growth in the industrial hemp market. With the approval of Arkansas’ Industrial Hemp Act in last March, House Bill 1778, which is now Act 981, permissions can now be given in the state to cultivate experimental plots of hemp, authorizing Arkansas’ Plant Board to authorize cultivators to participate in a 10-year industrial hemp research plan established to start in Spring 2018.

The details

In the main updates of 2017, as highlighted by Hemp comes first – Pennsylvania’s industrial hemp plan is set to expand considerably in 2018. Last year marked as the first year in decades that hemp could be officially cultivated in Pennsylvania, with 30 research assignments permits confined to 5 acres each. In this year, up to 50 institutions or individual growers of higher education will be allowed to cultivate up to 100 acres of industrial hemp per piece.

Hemp reported that Wisconsin Governor Scott Walker allowed Senate Bill (SB) 119 on December 1, 2017, letting Wisconsin farmers to produce industrial hemp. Wisconsin’s DATCP can now give licenses to approve the processing and growing of industrial hemp with a concentration of less than or up to 0.3% THC. The bill also enables the DATCP or a university or a college to establish an agricultural pilot plan to cultivate and study industrial hemp.

Hemp further updated that in North Carolina, Steve Troxler, the Commissioner of Agriculture, considers their first year of industrial hemp manufacturing was quite a success. As per the recent article, North Carolina boasted 104 registered industrial hemp cultivators who were registered to cultivate industrial hemp, while greenhouse space of 176,000 square feet were considered notable for the first year. There are 34 enrolled processors to create offerings and advance the market for industrial hemp.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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