Alberta Hemp Industry Set for Big Boost with New Cannabis Laws

June 18, 2018, Alberta

Canada’s impending legalization of recreational marijuana is being cheered on by pot smokers in the country, and its great news for the growing hemp industry, which is going to get a massive boost. Most producers are already gearing up for the new cannabis laws, which is set to take their revenues through the roof. This is because some sections of the Cannabis Act, ensures that they can extract non-narcotic cannabidiol (CBDs) from hemp chaff, leaves, and flowers, which must be discarded under current laws.

It is a gamechanger for hemp producers, because they can take full advantage of new cannabis laws and improve their bottom line even further. There is no denying that demand for hemp and cannabis products will be sky-high when the laws come into full effect. The producers are bracing themselves for that and there is excitement all around, because this is unprecedented territory for everyone involved.

A New Dawn for Hemp and Cannabis

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There are a lot of CBD, which include drinks, natural health products for insomnia and anxiety treatments, and nutraceuticals. The Cannabis Act is expected to be passed by the Senate, and all the biggest producers of hemp in the country are anticipating that the amendments by the government will help them out. Industrial hemp had been banned in Canada until 1998, due to the ban on cannabis plants, but that is all set to change.

Hemp experts are voicing out their support for the Cannabis Act, because this is a move that will help everyone in the industry. People in the hemp business have been fighting for the right to use the entire plant, and the new law is going to allow them that. It will help producers modify their harvesting equipment, and growers can easily collect and sell additional material without wasting time and money.

A Billion Dollar Industry Set to Rise

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The Canadian Hemp Trade Alliance has predicted that due to the astronomical demand of hemp and cannabis, the revenue from the industry will be through the roof. Early estimates that the Cannabis Act, will ensure that hemp producers manage to create a $1 billion industry in Canada in the next 5 years. The international sale of CBD products will help the industry generate a lot of revenue, and this is just the boost that the economy of Alberta had been waiting for because of their large-scale hemp production. Make no mistake, this is the best news that the Alberta Hemp Industry has had for a long time, and they are all set to cash in on the astronomical figures they will be raking in soon.

The value that they will be getting from the help plant has already been given a name, it has been dubbed as the ‘green gold rush’. However, there are warnings issued out to hopeful investors and entrepreneurs looking to get into the business, to not crowd the market with low quality products. Everyone wants to make money, but most people didn’t manage to find a lot of gold during the gold rush, so it is important that people understand that there are going to be few winners.

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