VPR Brands LP (VPRB) Among Industry Players Awaiting Final USDA Hemp Rules

  • VPRB among key players anticipating United States Department of Agriculture (USDA) final draft rules on industrial hemp
  • USDA’s Deputy Secretary Stephen Censky noted the regulations’ release to be expected within weeks, ahead of 2020 planting season
  • Interim rules drafted include input from myriad voices; intend to relieve burden on producers, stakeholders

VPR Brands LP (OTCQB: VPRB), a multi-vertical tiered technology holding company in the cannabis space including vaping, joins other hemp industry players in their anticipation of the United States Department of Agriculture’s (USDA) release of an interim final rule for its Hemp Program. This announcement is timed in advance of the 2020 planting season and should guide producers with a framework for their activities (http://cnw.fm/C1wQG).

“We would expect to be issuing the interim final rule here within the next couple of weeks,” USDA deputy secretary Stephen Censky said in his testimony to the Senate Agricultural Committee. “We have been working in the interagency clearance process for over 90 days, working with some of our federal colleagues through the [White House Office of Management and Budget] process to get input there.” Censky noted that the committee is nearing the end of that process.

Censky referenced the work done by the USDA’s Agricultural Marketing Service (AMS) to prepare legislation for the upcoming growing session, much of which was influenced by key stakeholders. The committee sought to solicit stakeholder feedback through several avenues, including an open webinar listening session during March of 2019 where many voices were heard. The overall goal of the initiative, he noted, has been to eliminate conflict between producers and existing programs and to ensure that the “burden on producers and other stakeholders is minimized.”

Areas to be covered by the regulations include land use, certification, product testing and disposal of hemp containing excess THC (http://cnw.fm/JxXi6). Censky said, “Many voices were represented during this listening session, and the insights offered during this and other stakeholder input were used by AMS to draft an interim rule.”

For hemp industry players like VPRB, this near-term release of an interim final rule on federal hemp regulations offers relief. A Hemp Program release prior to the 2020 planting season would provide direction to industry producers who seek a solid framework to guide their future activities.

Prior to 2018, industrial hemp production was prohibited because cannabis itself was a Schedule 1 controlled substance. While passage of the 2018 Farm Bill legalized the cultivation of industrial hemp, regulation is still catching up with the industry’s growth. For hemp industry stakeholders like VPRB that seek to execute strong strategy based on a solid foundation of growing practices, these regulations offer desired guidance.

VPR Brands employs a growth strategy centered on high-performance, high-quality products that build exponential brand equity, awareness and loyalty.

For more information, visit the company’s website at www.VPRBrands.com

NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://cnw.fm/VPRB

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