Hemp Inc (OTCMKTS:HEMP) announced that its subsidiary unit, Industrial Hemp Manufacturing, LLC is set to cultivate 50 acres of industrial hemp to their NC processing plant in coming Spring. As per the executives, this planned cultivation of industrial hemp depends on the NCIHC establishing the regulations and rules for the state’s agriculture plan to cultivate or grow industrial hemp.
While the Commission has yet to report a date of when the regulations and rules will be released or established, farmers across the state are positive it will be in time to cultivate hemp in the upcoming Spring. With increased number of families going green, farmers find more lucrative prospects in the environmentally sustainable hemp plant than with any other plant.
The management speaks
Bruce Perlowin, the CEO of Hemp, stated that not only are they are thrilled at the possibility to cultivate their own 50 acres of hemp in the upcoming Spring, they are also associating with farmers and land owners across North Carolina to cultivate hemp, such as the 1,500 acres they reported in a previous press release, while they close the final phase of bringing multi-purpose industrial hemp center in North Carolina online. They have planted Kenaf successfully, and now they are ready for hemp.
While the firm is looking forward to cultivating hemp on its 50 acres, Hemp CEO stated that the firm will continue to cultivate Kenaf next year if the Commission has yet to set official processes in place by the upcoming spring. This year, they are cultivating 420 acres of Kenaf in numerous counties in North Carolina offering revenues to numerous farmers across the state.
Kenaf is a yearly, non-wood fiber crop that is native to central Africa. It is a crop in the Malvaceae family also named Java jute and Deccan hemp. It has been compared to cotton and okra and classically grows 12 to 18 feet tall in a 6-month growing season.
