HEMP, INC. (OTCMKTS:HEMP) Rejoices With New Hemp Legislation

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Dallas, Texas 02/03/2014 (FINANCIALSTRENDS) – HEMP, INC. (OTCMKTS:HEMP) has reason to rejoice. One of the big names in the cannabis trading segment, the company will benefit directly from the recent legislation, which will however be applicable in states which have already legalized industrial hemp farming. According to legislation, which was an amendment to the an earlier bill,   now permits educational institutions such as Universities as well as state departments of agriculture and other agricultural research academics to grow hemp.

Farm Bill to favour HEMP and others

HEMP, INC. (OTCMKTS:HEMP) and other company’s which either directly or indirectly are involved in industry hemp import are found to benefit in the post-passage of Farm Bill market scenario.

It appears that, legislators are establishing the guidelines for the entry of new commodity in the market for farming community of Kentucky.

Currently, these companies operate through import of hemp seeds, hemp fabrics, hemp hurd as well as hemp hearts to produce their hemp product range. On the political front companies such as HEMP, INC. (OTCMKTS:HEMP) will now find the opportunity to compete with such countries such as China, which the latter currently dominates. The use of hemp in the US is on the increase and nearly every stakeholder in the hemp industry considers it to be one of the fastest growing industrial sections. Current consumption rates in the US are indicative of the trend – in 2013, the country consumed hemp in various forms valued at $500 million.

HEMP, INC. (OTCMKTS:HEMP) is expected to see it product portfolio diversify considering the variety of uses the legal hemp products are used for- from ropes to soap, clothing nutritional supplements as well as cooking oil. Apparently, American Presidents of yore-George Washington as well as Thomas Jefferson used hemp during their growing up years and it was as recently as 1970, when hemp was banned with the enactment of the Controlled Substances Act.

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