Data services firm, Hemp Benchmarks, closely monitors states' hemp licensing activity and has found that several states experienced major shifts in the number of licenses issued in 2020 over 2019.
"You'll be hard-pressed to find examples" of real growth in the market, Hemp Benchmarks Editorial Director Adam Koh said, noting that all the states that led in acreage in 2019, including Tennessee, Colorado, and Oregon, saw significant declines in 2020. The states that did see growth in cultivation were either those that had small pilot projects in 2019 or just started their programs in 2020, he added. And the overall growth that did take place was minimal, with only a few thousand acres in total.
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