USDA’s Inclusion of Hemp Data in the 2022 Census for Agriculture is seen as Another Boost to the Cannabis Sector, and REZYFi, Inc. is Set to Benefit from It
Dec 28, 2022
- The USDA is set to include hemp data in its 2022 Census of Agriculture, another indication of the ongoing growth in support of the overall cannabis industry, benefitting related mortgage origination and financing company REZYFi, Inc.
- The legal marijuana industry is set to hit 53% in 2026, a 60% growth, with international legal marijuana sales expected to hit $130 billion by 2030
- REZYFi is confident that this move by the USDA will yield further growth in the cannabis sector, supporting demand for its product offerings as it expands to additional states throughout the U.S.
In 2014, the Farm Bill, regarded as a monumental step towards the legalization of hemp and marijuana, opened the door for the Hemp Research Pilot Program. The program would allow for hemp cultivation for research purposes, kickstarting a budding multi-billion-dollar industry. The 2018 Farm Bill expanded on the provisions offered by the 2014 Farm Bill, further establishing the Domestic Hemp Production Program and even pushing for the amendment of the Agricultural Marketing Act. This program was administered by the United States Department of Agriculture (“USDA”) (https://cnw.fm/HFp7M).
In what marks another notable move in the right direction, the USDA is set to include hemp data in its 2022 Census of Agriculture. It is noted that with this inclusion, the organization is pushing the conversation around hemp and marijuana forward. It also signals the eventual integration and support…
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