December 14, 2010

Canada's Help for the Hemp Industry Stimulus

Demand for Hemp is huge in the U.S., but American farmers can't grow it. In Canada the government is helping the Hemp Industry grow as a form of stimulus. America has yet to re-embrace the potential in it's own hemp industry. Even though American farmers have been begging to be able to grow it. - Baked Life

The [Canadian] federal government is pumping more than $700,000 into the hemp industry as it looks to increase production capacity and make inroads into the American market. A $410,000 repayable contribution is going to Fresh Hemp Foods to purchase and install new processing equipment in its new 20,000 square foot facility.

A $300,000 repayable loan is going to Hemp Oil Canada to purchase and install new air classification milling and cold press oil expeller technology. Meanwhile, the federal government is investing nearly $19,000 in the Canadian Hemp Trade Alliance's efforts to reach the U.S. market.

In 2009, exports of hemp seed and hemp products were valued at more than $8 million, with most of that going to the United States. While hemp's use as a fibre is well known, it also has many nutritional benefits and is used in pastas, salad dressings and frozen desserts.

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