Growth expected in the Canadian Hemp sector with federal investment and updated cannabis legislation

By Dori Modney (@Dori_Modney on Twitter)
September 5, 2018 - 2:44pm

WINNIPEG -- The Federal government has announced an investment of more than $330,000 to the Canadian Hemp Trade Alliance (CHTA)*.

Federal Agriculture Minister Lawrence MacAulay announced the money on Tuesday in Manitoba, as a way to help develop industry grading standards.
 
“Our Government's investment and recent changes to hemp regulations is providing the Canadian Hemp industry the tools they need to get more of their world-class crops into Canadian foods and other products."
Part of new cannabis legislation the government brought in on August 10th, 2018, will allow whole plant harvest, including industrial hemp flowering heads, branches and leaves, beginning in the 2018 crop year. 
 
 Farmers can start researching the most efficient and economic ways to capture the full value of the hemp plant, and storing this material until it can be sold under the new Cannabis Act, which comes into force on October 17th, 2018. The changes are expected to open new markets and revenue sources for hemp producers.
 
Hemp is used across a variety of products, including environmentally friendly clothing and building materials, as well as a fibre and protein source in food.
 
Between January 2008 and November 2017, there were 452 products using hemp as an ingredient launched in the world. Over 54.7 per cent of hemp-containing products launched used hemp protein as an ingredient.
In 2017 alone, Canada exported $93 Million in hemp food and fibre.
 
*The CHTA is a national not-for-profit organization that represents over 260 growers across 9 provinces and promotes Canadian hemp and hemp products globally. Established in 2003, the Alliance represents those involved in Canada’s hemp industry.  Members include farmers, processors, manufacturers, researchers, entrepreneurs and marketers
 

2018 offered generally strong cattle prices

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