{"id":5078,"date":"2015-11-26T01:49:30","date_gmt":"2015-11-26T01:49:30","guid":{"rendered":"https:\/\/www.420magazine.com\/?p=3980"},"modified":"2015-11-26T01:49:30","modified_gmt":"2015-11-26T01:49:30","slug":"colorado-hemp-industry-releases-first-stats","status":"publish","type":"post","link":"https:\/\/cannitrol.com\/blog\/colorado-hemp-industry-releases-first-stats\/","title":{"rendered":"Colorado Hemp Industry Releases First Stats"},"content":{"rendered":"<div id=\"wp_fb_like_button\" style=\"margin:5px 0 5px 5px;float:right;height:100px;\"><script src=\"http:\/\/connect.facebook.net\/en_US\/all.js#xfbml=1\"><\/script><fb:like href=\"https:\/\/cannitrol.com\/blog\/colorado-hemp-industry-releases-first-stats\/\" send=\"true\" layout=\"standard\" width=\"450\" show_faces=\"false\" font=\"arial\" action=\"like\" colorscheme=\"light\"><\/fb:like><\/div><p>Sales of hemp products will reach $500 million nationwide in 2015, according to a preliminary analysis by the new Boulder-based Hemp Business Journal.<\/p>\n<p>That\u2019s up 25 percent over 2014, when Americans bought about $400 million worth of such hemp-based products as clothing, cosmetics and building materials, the majority of which were imported into the U.S.<\/p>\n<p>Three states accounted for the majority of U.S. agricultural hemp in 2015: Colorado (leading the way with 2,000 acres in production), Tennessee (1,000 acres) and Kentucky (922 acres), the industry publication said.<\/p>\n<p>No current system exists to track what the hemp is being grown for but, in Colorado at least, the harvest was \u201cprimarily\u201d for the non-psychoactive chemical compound cannabidiol, according to Sean Murphy, publisher of the Hemp Business Journal.<\/p>\n<p>\u201cThat\u2019s the real story: the CBD market,\u201d he said. Consumer sales of CBD-infused products, typically for pain relief or anti-inflammatory medicines, are projected to reach $85 million in 2015.<\/p>\n<p>\u201cA couple of years ago, there was no CBD market,\u201d Murphy said. \u201c(Look) how fast that emerged in a year or two.\u201d<\/p>\n<p>CBD Biosciences recently announced plans to create the world\u2019s largest hemp oil processing plant at the former Boeing rocket assembly plant at Pueblo Industrial Park.<\/p>\n<p>More comprehensive data on CBD sales are still forthcoming, but given the share of U.S. hemp coming from Colorado (51 percent) it\u2019s evident that \u201cColorado is really driving that,\u201d Murphy said.<\/p>\n<p>Some growers estimate CBD sales are more robust than the journal estimates \u2014 closer to $300 million.<\/p>\n<p><img src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2015\/11\/colorado-hemp-industry-releases-first-stats.jpg\" alt=\"\" border=\"0\" \/><\/p>\n<p>News Moderator: Jacob Redmond <a href=\"http:\/\/www.420magazine.com\/\" target=\"_blank\">420 MAGAZINE \u00c2\u00ae<\/a><br \/>\nFull Article: <a href=\"http:\/\/www.chieftain.com\/special\/marijuana\/4136956-120\/hemp-cbd-colorado-journal\" target=\"_blank\">Hemp Industry Journal Releases First Stats<\/a><br \/>\nAuthor: Shay Castle<br \/>\nContact: <a href=\"http:\/\/www.chieftain.com\/site\/contact\/\" target=\"_blank\">Contact Page<\/a><br \/>\nPhoto Credit: Charles Bertram\/Lexington Herald-Leader Via The Associated Press<br \/>\nWebsite: <a href=\"http:\/\/www.chieftain.com\/home\/\" target=\"_blank\">The Pueblo Chieftain<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of hemp products will reach $500 million nationwide in 2015, according to a preliminary analysis by the new Boulder-based Hemp Business Journal.<\/p>\n<p>That\u2019s up 25 percent over 2014, when Americans bought about $400 million worth of such hemp-based products as clothing, cosmetics and building materials, the majority of which were imported into the U.S.<\/p>\n<p>Three states accounted for the majority of U.S. agricultural hemp in 2015: Colorado (leading the way with 2,000 acres in production), Tennessee (1,000 acres) and Kentucky (922 acres), the industry publication said.<\/p>\n<p>No current system exists to track what the hemp is being grown for but, in Colorado at least, the harvest was \u201cprimarily\u201d for the non-psychoactive chemical compound cannabidiol, according to Sean Murphy, publisher of the Hemp Business Journal.<\/p>\n<p>\u201cThat\u2019s the real story: the CBD market,\u201d he said. Consumer sales of CBD-infused products, typically for pain relief or anti-inflammatory medicines, are projected to reach $85 million in 2015.<\/p>\n<p>\u201cA couple of years ago, there was no CBD market,\u201d Murphy said. \u201c(Look) how fast that emerged in a year or two.\u201d<\/p>\n<p>CBD Biosciences recently announced plans to create the world\u2019s largest hemp oil processing plant at the former Boeing rocket assembly plant at Pueblo Industrial Park.<\/p>\n<p>More comprehensive data on CBD sales are still forthcoming, but given the share of U.S. hemp coming from Colorado (51 percent) it\u2019s evident that \u201cColorado is really driving that,\u201d Murphy said.<\/p>\n<p>Some growers estimate CBD sales are more robust than the journal estimates \u2014 closer to $300 million.<\/p>\n<p><img src=\"https:\/\/cannitrol.com\/blog\/\/wp-content\/uploads\/2015\/11\/colorado-hemp-industry-releases-first-stats.jpg\" alt=\"\" border=\"0\" \/><\/p>\n<p>News Moderator: Jacob Redmond <a href=\"http:\/\/www.420magazine.com\/\" target=\"_blank\">420 MAGAZINE \u00c2\u00ae<\/a><br \/>\nFull Article: <a href=\"http:\/\/www.chieftain.com\/special\/marijuana\/4136956-120\/hemp-cbd-colorado-journal\" target=\"_blank\">Hemp Industry Journal Releases First Stats<\/a><br \/>\nAuthor: Shay Castle<br \/>\nContact: <a href=\"http:\/\/www.chieftain.com\/site\/contact\/\" target=\"_blank\">Contact Page<\/a><br \/>\nPhoto Credit: Charles Bertram\/Lexington Herald-Leader Via The Associated Press<br \/>\nWebsite: <a href=\"http:\/\/www.chieftain.com\/home\/\" target=\"_blank\">The Pueblo Chieftain<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1607,9,1,3],"tags":[4175],"_links":{"self":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/5078"}],"collection":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/comments?post=5078"}],"version-history":[{"count":0,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/posts\/5078\/revisions"}],"wp:attachment":[{"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/media?parent=5078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/categories?post=5078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cannitrol.com\/blog\/wp-json\/wp\/v2\/tags?post=5078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}