According to the report the market for hemp seeds is expected to grow “at a significant rate” over the next eight or so years, as more people around the world discover the benefits of hemp seeds and their derivative products.
The growing demand for cannabis oil is much more than a North American event. Last year the British government announced that cannabidiol (CBD) was found to have a “restoring, correcting or modifying” effect on “physiological functions” when administered to humans. As a result, the UK began to allow the limited sale of CBD.
Cannabidiol, popularly known as CBD, is one of the most abundant chemical compounds found in industrial hemp (cannabis). Of the hundreds of natural components found within the plant, CBD falls under the sub-class of compounds known as cannabinoids. Different than tetrahydrocannabinol (THC), which is the well-known chemical found in cannabis that is psychoactive, causing a “high”, CBD does not induce an intoxicating or psychoactive effect. Because CBD does not cause the high that THC does, it has unique medical and scientific qualities.
Last year I formed a partnership with a Colorado industrial hemp farmer to produce an Otto II seedlot for the 2017 planting season. That seedlot is harvested and undergoing testing in our lab. Once the seedlot has been proofed and germination tested it will be available for purchase.