Wilson,
cgpr's processing and production facilities/sites are located in countries such as Canada where hemp farming/processing was once again made legal. The US will no doubt be dragged kicking and screaming to the reality that their 1930's "Reefer Madness" diatribes have lost all credibility. That economic realities outweigh puritanical myth.
I include an article showing the pressures being exerted by agricultural groups toward the lifting of the ban and allowing production of this historical crop to be re-established.
This company is in a good position for growth (IMHO).
Let me know your thoughts.
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Hemp takes root in Senate committee
ST. PAUL 2/19/99 - A new farm crop, industrial hemp,took root in the Senate Agriculture and Rural Development Committee Thursday.
The committee voted unanimously to legalize hemp production, even though the crop is closely related to marijuana.
Law enforcement officials oppose the change. They maintain that widespread hemp production would make it more difficult to enforce the laws against using and possessing marijuana, since the two plants have a similar appearance.
The bill's author - Senate Majority Leader Roger Moe, DFL-Erskine - suggested that the Bureau of Criminal Apprehension was being too cautious. He said enough safeguards can be incorporated into the law to protect against "shenanigans with illegal drugs."
Hemp not a new crop in the U.S. It was grown here before World War II.
The crop fell out of favor after the war and only recently has been rediscovered.
Canada harvested its first hemp crop in 60 years last year. Hemp fields there are tested three times a season to ensure that the hallucinogenic qualities of the crop are low enough.
Moe said an estimated 29 countries are growing hemp. "It is an unbelievable product that has a lot of byproducts,"he said.
Hemp is used in the production of cosmetics, clothing, shoes, paper, and car. "As we know, agriculture is changing," Moe said. "Markets are changing and consumer tastes are changing."
Sam Baxter, whose store at the Mall of America in Bloomington specializes in hemp-based clothing, said the product line has become very popular. When he opened his store, he said, his line of clothing
attracted mainly young people looking for something unusual. Today, his clientele also includes a lot of older people, he said.
In one year, he said, his sales have increased 100 percent. His Christmas sales are up 35 percent. "We need an alternative crop," Baxter said. "When Canada can make it profitable, we know we can do it here." Moe said hemp production is not a panacea for the farm crisis. It is an option for farmers, he said.
"But when you look at the rural economy, you have to look at a lot of different options," Moe said. It is not the first time the committee voted for legalizing hemp production. Moe introduced an identical bill last year. The legislation was approved by both the House and Senate, but was vetoed by former Gov. Arne Carlson.
Sen. Dallas Sams, DFL-Staples, chairman of the agriculture committee, said the legislation has been endorsed by the Farm Bureau, Farmers Union and a host of other farm organizations.
The bill was forwarded to the Senate floor for a vote. A similar bill is moving through the House. |
