As the world changes their minds regarding marijuana and its byproducts, CBD is one of the strong leaders of this movement. As a growing number of farmers become concerned about the legality of marijuana, CBD is a product that is going to bring with it enough of a sustenance to hold down their jobs and provide them with a legal product to sell, even if many people have never even heard of it.
Sold as a marijuana-based product, CBD does not come with the high that you would find with marijuana when it is consumed or smoked. It is an extract that can come from the root of the marijuana plant, not the leaves, which is where the THC is found. With this new innovative way to use the plant, many are creating the CBD oils, balms, and salves that are creating a wave of excitement from all of the benefits it gives. Having less than 0.3 percent of THC within it, hemp and CBD oil in Orange County are two products that are useful in many ways, but do not have the ability to get the user high, making it a legal substance.
Farmers Harvesting Hemp and CBD Oil in Orange County and the Surrounding Areas
Rapidly evolving, the hemp market is booming amid the current need for hemp and CBD based products. This hemp-derived extract, known as CBD or cannabidiol, is bringing numerous benefits with it. Many use it as a health-aid. It is often used to combat anxiety or even to lessen the pain that they are in. With so many uses, this oil is dropping marijuana prices and raising the prices of the bottles and containers being sold with CBD in them.
As a business, you have to adapt to the growing needs of the market. This is what many of the marijuana farmers are doing. As the needs for hemp products and CBD oils in Orange County increase, these farmers are going to continue to supply the necessary products at premium rates. This is helping them drive business. Where once marijuana in Orange County was the rising industry, the product has lost its top position as hemp and CBD products continued to climb further.
CBD is a Growing $1 Billion Industry
Bringing in thousands of dollars per kilogram, many farmers found this legal, enticing new way to make money off a supply chain that beckoned them to do so. These farmers are able to make more than $100,000 per acre of plants that they grow and harvest, making it one of the most lucrative ways to farm a plant. While these farmers would still have to purify and distill the plants to make them useable in their finished form, they still are making thousands of dollars off of a product that once was not able to make nearly as much.
According to reports given by the Oregon Office of Economic Analysis, the unit price of marijuana was once $14. It has dropped 50% down to just $7 since 2015. Due to this, many farmers are looking towards CBD products to make a living, since they are bringing in more money and more business. Hemp licenses, which were just sold in the double digits in the past few years, rose within the last year close to 400 in just Oregon alone.
Federal Government to Approve First CBD Based Epileptic Drug
Even though the marijuana industry is small, change is coming. It is change that is coming in the form of CBD and cannabinoid. In the near future, the first CBD based medication is going to be put on the market, making the $1 billion industry rise even further. Many find this new form of medication more natural, which will bump up sales and unleash a new wave of change for the medication industry as a whole. Marijuana dispensaries OC might see a change in their stores from it as well. Since more and more medications are being tested and approved with CBD oil in them, more benefits may be discovered as well, further propelling the industry forward in all facets.
As time moves forward, so does the use and need of CBD oil in Orange County products. Many farmers have already switched gears in their marijuana growing industry to accommodate the growing need for hemp and CBD. The attitudes towards the CBD and marijuana markets are opening up so that many people can explore new opportunities with both of these products should they need something to help with their symptoms or conditions.