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420 with CNW – USDA Plans to Survey Nearly 20,000 Hemp Businesses About Their Experiences So Far

The U.S. Department of Agriculture plans to distribute a survey across the country in a bid to understand how thousands of hemp businesses are finding the production, marketing and sale of hemp. The insights gained will help the USDA to regulate the sector more meaningfully.

Together with the University of Kentucky and state agriculture departments, the USDA wants to learn about hemp production costs, production practices, as well as marketing practices.

However, the federal agency needs to seek permission from the White House Office of Budget and Management before sending out the survey. For this reason, the agency will open a 60-day window within which stakeholders can give feedback about the specific aspects that the USDA wants to include in its survey.

If the agency gets the authorization that it is seeking, it will encourage about 18,000 hemp farmers to take the survey and provide responses. The survey itself will be divided into four main parts, and it will take approximately half an hour to complete.

The first section focuses on gathering information about the location in which hemp production was done, the acreage for which a farmer obtained a license, the acreage they actually planted, and the acreage they harvested. This information will be categorized according to the end-purpose for which the hemp was grown, such as for fiber and CBD extraction.

The second section pays attention to the production practices and costs. Here, questions around fertilizers, seeds, labor, testing and licensing fees will be provided. Detailed questions about the various types of hemp will be presented in order to get insights about the different cost implications.

Marketing and contracting practices will be another section of the survey. Insights sought here include those about the farmgate prices of different end-use hemp crops, storage, contract structures and farmers’ impressions about contract farming of hemp.

The final section is intended to collect demographic information on issues like race, gender, age, education level household sizes and how much experience the farmer has in agriculture.

The USDA says that the data it collects from this survey will be useful in forecasting agricultural activity in the hemp sector and the attendant costs from a state level to the regional and national level. The University of Kentucky is expected to analyze the survey results and then compile a report which will be submitted to the USDA for further analysis and implementation.

The federal agency had recently closed an extension to the window within which hemp industry stakeholders could submit their comments about the interim final rules for hemp production. All indications show that the USDA is taking the pushback from the industry seriously, and the additional information it seeks could be instrumental in shaping how the agency responds to the concerns raised.

There are many hemp and cannabis sector players that may have massive interest in the way the USDA regulates hemp. One of the interesting companies which you can watch is Sugarmade, Inc. (OTCQB: SGMD). It focuses on offering cannabis delivery services, especially during this time when the ongoing COVID-19 pandemic has forced nearly all businesses to rely on delivery services in order to serve their customers.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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