The Williamson County Agricultural Expo Park was teeming with people from across the U.S. during the second edition of the Southern Hemp Expo held last week.
The enactment of the 2018 Farm Bill helped the already booming hemp industry to explode massively as thousands of farmers and other industry players moved in to get their slice of this new cash crop and its derivatives.
The massive turnout at the Southern Hemp Expo was therefore expected, but not even the most optimistic of the organizers could have guessed how much attention the event would attract from out of state players.
In Tennessee alone, more than 2,600 businesses and farmers were licensed to process or grow hemp this year. Many of these people were at the expo and they were joined by dozens of companies from outside the state. These were mainly equipment sellers and processors who were looking to network and create business partnerships.
The companies included those who are involved in testing hemp to monitor the THC levels so that a farmer is sure that his or her crop is within the 0.3 percent limit set by law. Most states advise farmers to have their plants tested periodically during the cultivation process, and all states make it mandatory for plants to be tested and get clearance before being harvested and sold. The testing companies were therefore at the expo to market their services.
Other companies were equipment suppliers selling machines that process hemp and extract CBD from it. One example of companies in this category is Isolate Extraction Systems, Inc. This Colorado-based company specializes in selling extraction equipment that can be used in the hemp industry and other products.
Their equipment looks like top of the range pressure cookers. The machine processes raw hemp and gives CBD oil that is ready to be sold. In one day, the machine can process approximately 140 pounds of hemp. The $340,000 price tag attached to these machines doesn’t seem to be deterring buyers, if the documents that changed hands during the expo are anything to go by.
As state agricultural officials said during the event, the hemp industry is like a racecar or cheetah that takes off from zero and reaches a hundred in just a matter of seconds. The expo helps all those who are interested to dial in and move at the same pace at which the industry is moving.
Industry watchers think that when hemp industry participants like Wildflower Brands Inc. (CSE: SUN) (OTCQB: WLDFF) and Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) see the interest shown during events like the Southern Hemp Expo, they are assured that the future of the industry is bright.
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