Marijuana growers diversify with hemp amid CBD boom - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

Marijuana growers diversify with hemp amid CBD boom

(Source: Pixabay) (Source: Pixabay)

By GILLIAN FLACCUS
Associated Press

SPRINGFIELD, Ore. (AP) - An over-supply of legal marijuana has driven pot prices to record lows in Oregon.

That's prompting some growers to pivot to another type of cannabis to make ends meet - one that doesn't come with a high.

Applications for state licenses to grow hemp - marijuana's non-intoxicating cousin - have increased more than twentyfold since 2015 and Oregon now ranks No. 2 behind Colorado among the 19 states with hemp cultivation.

The rapidly evolving market comes amid skyrocketing demand for a hemp-derived extract called cannabidiol oil, or CBD, that is seen by many as a health aid.

Like marijuana, CBD is still considered a controlled substance by the U.S. Drug Enforcement Administration.

But eager farmers say in its purified distilled form, CBD oil can command thousands of dollars per kilogram.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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