The U.S. hemp industry, in cooperation with the U.S. Government, is taking an important step towards competing in the international marketplace.
The National Industrial Hemp Council (NIHC) and the U.S. Department of Agriculture's Foreign Agricultural Service, along with individual hemp companies, have agreed to a one-year cost-sharing agreement to support international marketing and product branding efforts.
The two-part agreement includes a generic marketing and promotion agreement providing matching funds for NIHC research to develop an international market presence. There is also a branded products program where hemp companies can obtain financial support to establish a market for their products.
The agreement will first provide the financial resources for NIHC to undertake an extensive study of foreign markets to maximize companies' opportunities. For example, the NIHC will determine where it should focus on its member's products and what foreign regulations might be problematic.
"This agreement is significant because it demonstrates the federal government's recognition of hemp's potential," Kevin Latner, NIHC's senior vice president for trade, says.
USDA sees that "we are now in a global trade environment with respect to hemp products," he says. "It's an opportunity to compete internationally as being one of the leading agricultural countries in the world."
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