Stakeholders in the regulated Cannabis market can’t hold their peace after the US Senate passed the 2018 Farm Bill that seeks to decriminalize Hemp farming among other benefits to traditional US farmers. One of them is the CEO and Chairman of the North America Cannabis Holdings Inc (OTCMKTS:USMJ), Steven Rash whom in a letter addressed to all Cannabis enthusiast detailed the immense possibilities the passing of the bill will unlock.
Although, the bill still awaits President Trump’s assent, enthusiasts are already viewing it as a done deal considering that President Trump has always been pro the bill. The president once told reporters in the Whitehouse that “the farm bill was in good shape.”
Possibilities that the bill creates
In his address to Cannabis enthusiasts, Mr. Rash alluded to immense benefits in multiple sectors that will directly and indirectly interact with hemp and hemp-derived products. The letter touches on the farming sector where industrial hemp farmers will directly profit from proceeds of their products, the pharmaceutical industry, construction and energy industry as well.
Industrial Hemp has been known to produce raw materials for construction, clothing and paper manufacturing. Hemp growing is environmentally friendly as the crop only needs little water plus farmers will not incur chemical fertilizers and pesticides costs.
Projected Hemp market valuation
The letter also cited an article by Motley Fool projecting that the Bill will be law by Jan 1 2019 should the senate pass it. The article further mentions that the US Hemp market is expected to spiral to mind blowing heights of $22 billion by 2022 should the bill be approved.
Rash on his part is of the opinion that the Hemp market will surpass the $22 billion valuation if all hemp applications are considered. The CEO also foresees exponential growths for the hemp-based companies operating under the USMJ umbrella. These companies include; Puration Inc (OTCMKTS:PURA) the proprietor of CBD infused sports beverage EVERx, Kali Inc (OTCMKTS:KALY), Nouveau, and the Priority Aviation (OTCMKTS:PJET).