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Hemp Farmers Still Could See Over $7 Billion Worth Of Crop Wasted Due To Banking Issues

Pouline Ireri

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According to a recent report, hemp farmers are at risk of losing $7.5 billion dollars due to a lack of installed processing equipment to harvest the hemp.

CEO of Delta Separations, Roger Cockroft, stated

“CBD derived from hemp is a huge new growth industry for the U.S. but this year, the industry’s first fully legal year, is going to be a nightmare for many. Big banks ran scared and wouldn’t support infrastructure investments because they heard the word ‘cannabis’ even though hemp is completely federally legal. With such a small processing capacity in the U.S., up to 90% of what’s in the ground will most likely rot in the field when Crop-tober rolls around. That could mean loss of up to $7.5 billion.”

One of the main concerns for financial institutions, according to Vegetable Growers News, is that they will be penalized for supporting businesses that operate on the cannabis supply chain.

Pouline Ireri lives in Kenya and is new at TOC but plans to contribute much more in the near future. She graduated from the University of Nairobi and is a Business consultant/Micro Finance specialist. Her affinity for cannabis and CBD came naturally through her own use and become an advocate based on the positive effects and results she experienced.

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