The boom for hemp production is coming as Canada approves the sale of consumer and pet products containing CBD, the bulk of which will be derived from hemp.
Analysts predict the hemp market will be worth $1billion by 2023, but there is a general consensus that this is too conservative.
The rush by manufacturers to develop CBD-infused products is on as they prepare for their legal sale by the Fall of 2019.
Canada has had a licensing system for the cultivation and processing of industrial hemp for commercial purposes. That year, Health Canada issued licences to 259 farmers to grow on 6,000 acres. By 1999, that number had grown to 674 farmers and 35,000 acres.
Today more than 120,000 acres is in production.
Cultivators were permitted to produce hemp derivatives as long as the sprout, leaves, flowers and bracts of the plant were excluded from the production process. Only the hemp seeds could be used.