Hemp farmers and industrial hemp producers have been working hard to expand their industry in the U.S. and Canada, with both countries having recently legalized hemp production.
But as the country continues to wrestle with marijuana legalization, the growing hemp industry has faced an uphill battle in Canada.
A new report from the International Hemp Trade Association warns that Canada’s new regulations could be a boon for hemp production in the country.
“It’s going to be a very tough road for Canada’s hemp producers,” says Dan Zimbalist, the president and CEO of the International Hemp Trade Association.
“Canada’s regulations have a lot of restrictions on what’s allowed, and we’re going to see a lot more hemp products in the market that are not allowed under Canadian law.”
The government of Prime Minister Justin Trudeau has promised to make marijuana a legal substance for adults in the province by 2021.
The government has been clear that it’s in its best interest to have a healthy hemp industry in Canada, which is estimated to produce more than $1 billion in revenue annually.
“Canada is one of the top countries in terms of hemp production,” says Zimball.
“We have over 10 million hectares of hemp growing in Canada alone.
We have the world’s largest hemp industry, which will have an impact on Canada’s economy.
So we’ve got to get this right.”
While the U and U.K. have already legalized hemp farming and the U, the U: Marijuana legalization bill that was debated in the House of Commons in June 2017, has been referred to the Senate.
Canada has yet to act on any legalization bills, and the government has said that hemp will not be legalised in the future.
Canada’s Liberal government is hoping that its recent cannabis legalization legislation will lead to more investment in the sector.
“The cannabis industry in this country is going to continue to grow and we need to do everything we can to support the industry,” says Adam Olsen, the minister of the environment.
“As we get closer to legalization, I’m hopeful that we’ll be able to invest in our hemp sector in a way that will help the sector grow.”