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Illinois Adult-use Cannabis Sales Reach Nearly $20 Million In First 12 Days

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The Pennsylvania Department of Agriculture issued its version of industrial hemp regulations at the start of the year, following federal guidance and generally tightening the rules on what was a robust 2019 season in the state.

Now, prospective hemp growers may apply for a license in Pennsylvania for just $150 (down from $3,000 just two years ago), but the supply chain has been tightened in its own way. Where farmers grew about 4,000 acres of hemp in 2019, much of that supply is languishing in storage warehouses, victim to an early boom in hemp production.

Farmers sitting on biomass from 2019 harvests may have an even more difficult time working with licensed processors now; the new rules in Pennsylvania will include THCA content in the 0.3% THC threshold. This means that hemp growers will have an even more onerous hurdle to jump when selling harvested material into the market.

Geoff Whaling, president of the Pennsylvania Industrial Hemp Council, says that this tension between available hemp biomass and supply-side regulations is something that all farmers should take into consideration this year. So much of the nascent hemp industry remains in flux, with CBD extraction guiding much of the early demand, that a cautious approach may be warranted from those itching to get into the space.

Source: https://www.cannabisbusinesstimes.com/article/illinois-adult-use-cannabis-sales-reach-nearly-20-million/

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