As of January 2019, changes to the Industrial Hemp Regulations (IHR) have opened the opportunity to harvest hemp for CBD. “As a result, the Canadian hemp industry is expected to exceed $1 billion annually in 2023” (InnoTech Alberta).
The Industrial Hemp Regulations, 2018, define “Industrial Hemp” as cannabis plants or plant parts of any variety whose leaves and flowering heads contain no more than 0.3% THC. However, there are no limitations to the concentration of CBD.
"CBD" stands for cannabidiol. It is the second most prevalent active ingredient of cannabis and is one of over 500 phytochemicals found in the Cannabis sativa plant.
Edibles containing cannabis and cannabis concentrates became legal on Oct. 17, 2019. One of the most notable characteristics of the CBD market is that CBD-infused products constitute one of the widest arrays of any herbal supplement products.
While the Industrial Hemp Regulations have been in place since 1998, hemp seeds and fibre were historically harvested in Canada. “There are more than 72,000 acres of hemp grown in Canada as of 2019” (StatCan). However, there is still a considerable shortfall in demand. An Industrial Hemp Licence provides the Licenced Holder with the opportunity to enter a rapidly growing market with minimal start-up costs and low entry barriers.
Cultivation methods for growing industrial hemp for CBD are consistent with outdoor cannabis cultivation, with a plant rate of 1,500 to 5000 plants per acre. While harvesting methods and equipment vary, most current CBD hemp farmers opt to harvest by hand instead of the “combine method” typically used when harvesting hemp for fibre and seeds. However, several new machines are being introduced to the market, reducing human labour and expediting the harvest.
Industrial Hemp applicants are subject to much less stringent security and capital requirements than applicants seeking to cultivate cannabis. The most costly process in the cultivation of hemp is the labour required to sow and harvest the plant. Typically our Industrial Hemp applications are approved within 60 days by Health Canada.
GrowLegally will work with your company from Seed to Success from licensing to developing a strategic growth strategy!
Apply Now! Get licenced and Join our Global Cannabis Inter-Industry Ecosystem!
Get the latest updates on new products and upcoming sales