SPRINGFIELD, Ore. (AP) — A glut of legal cannabis is driving Oregon cooking pot costs to rock-bottom amounts, prompting some nervous growers to begin pivoting to some other style of cannabis to produce ends meet one that is does not have a higher.
Applications for state licenses to cultivate hemp — marijuana’s non-intoxicating relative — have increased significantly more than twentyfold since 2015, making Oregon # 2 behind Colorado among the list of 19 states with active hemp cultivation. The quickly evolving market comes amid skyrocketing interest in a hemp-derived extract called cannabidiol, or CBD, seen by numerous being a wellness help.
In its purified form that is distilled CBD oil commands 1000s of dollars per kg, and farmers could make significantly more than $100,000 an acre growing hemp flowers to make it. That distillate could be changed into a crystallized type or powder. Continue reading