Just a year after the 2018 farm bill passed and the hemp game has changed. The plant has sparked an agricultural boom and is providing much hope to new and established farmers. The cash crop is aided by the boom in demand for CBD products, which tout the cannabinoid as a miracle cure, though perhaps a little prematurely.
Hemp, as a crop, isn’t just a one-trick pony either. There are thousands of applications for the plant, and the plant might not only heal us but feed and clothe us as well.
One product that is made from hemp, hempcrete, is starting to get some recognition. The compound is made using 40% hemp byproducts, including the woody core of the plant that is left over after CBD is extracted.
Steve Bannon, a former Trump strategist, is enamored with the material. He also firmly supports the border wall and has already raised millions to build his own private one. In May he told Politico quote, “Do you understand the irony of using hempcrete to keep out marijuana?” Putting the pieces together brings to mind big news for a major project and a growing industry.
“One million acres of hemp builds Trump’s wall and $700 million buys the hemp, a pittance compared to overall construction estimates ranging from $15 billion to $70 billion,” said Chris Bennett, reporting for Ag Web Farm Journal.
A project of this scale would have huge ramifications for businesses looking to get into the cannabis industry. It might be a left turn from many farmers looking to farm CBD, but adding an extra $700 million for hemp would encourage a lot of farmers to take up the crop.
Unless the federal government decides to go in on this project, it will likely remain a pipe dream. Though it’s an interesting one.