Anticipating the passage of the 2018 Farm Bill, New York State is opening up the application process to companies and individuals interested in growing or processing industrial hemp within the state. This move was announced by the NYS Department of Agriculture and Markets and is driven by the state’s Hemp Agricultural Research Pilot Program. Applications are open until December 28, 2018. Any questions about the process can be emailed to: industrialhempNYS@agriculture.ny.gov.
The hemp-derived CBD market is growing by the day. If the Farm Bill passes, and people are optimistic that it will, this could contribute to a growing CBD market that cannabis analysts such as the Brightfield Group say could grow to $22 billion by 2022.
According to a recent article about this move from the state, there is also a research component to this call for submissions:
The Department is also accepting applications for the processing of industrial hemp as it relates to Cannabidiol (CBD). Applications can focus on research into the benefits and risks of CBD use for wellness purposes and to gauge its effectiveness. Applications related to human and animal food will not be considered at this time.