April 20, 2023
USDA Releases National Report Data
Today, the U.S. Department of Agriculture (USDA) released its National Hemp Report containing hemp production data collected last year. According to the report, the value of hemp production in the open and under protection for the United States totaled $238 million, down 71 percent from 2021.
“Today’s USDA report makes clear what has been evident in the industry for years: The economic opportunity for U.S. farmers continues to decline, with the chief culprit being FDA’s inaction on regulating hemp extracts such as CBD,” said U.S. Hemp Roundtable General Counsel, Jonathan Miller. It’s time to regulate CBD now, and we applaud Reps. Morgan Griffith (R-VA) and Angie Craig (D-MN) for introducing bi-partisan legislation to require FDA to regulate CBD, and House Oversight Committee Chair James Comer (R-KY) for instructing his committee to launch an investigation that could prod the agency to take more expedited action.”