On this segment of American Made, a conversational corner on policy affecting American Business, Business Casual host Daniel Litwin broke down the explosion of the American hemp market. According to the US Department of Agriculture, land used for hemp growth expanded by nearly 400% from 2017 to 2018; compare that to 2014, when land use for hemp was practically nonexistent.
Why the unprecedented growth? A lot can be attributed to the prevalence of CBD oil; retail sales in 2018 were anywhere from half a billion to $2 billion…not a small number by any means. Listen as Daniel and Tyler analyze why this growth is important for farmers, who are being hit from all angles with a difficult 2019 growing season, as well as why business around hemp is so profitable.
Tune in to Business Casual, MarketScale’s live radio broadcast, every Wednesday and Friday at 8 a.m. CST.