Hemp, Inc. Applauds USDA’s New Insurance Option For Hemp

Las Vegas, NV, Dec. 30, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Hemp, Inc. (OTC PINK: HEMP) a global leader in the industrial hemp industry with bi-coastal processing centers, including the largest multipurpose industrial hemp processing facility in the western hemisphere, announced today its support for the U.S. Department of Agriculture’s new crop insurance option for hemp growers in select counties of 21 states in 2020.

 

The insurance program will provide Actual Production History (APH) coverage under 508(h) Multi-Peril Crop Insurance (MPCI). The MPCI coverage is for hemp grown for grain, fiber, and CBD oil for the 2020 crop year. This offering comes in addition to the Whole-Farm Revenue Protection coverage program available to hemp growers that was announced earlier this year.

 

This new pilot insurance program is open to eligible producers in certain counties in Alabama, California, Colorado, Illinois, Indiana, Kansas, Kentucky, Maine, Michigan, Minnesota, Montana, New Mexico, New York, North Carolina, North Dakota, Oklahoma, Oregon, Pennsylvania, Tennessee, Virginia, and Wisconsin.

 

“The U.S. Department of Agriculture gave hemp farmers a huge Christmas gift this holiday season by creating a new kind of crop insurance for hemp producers in 21 states, just in time for the coming crop year,” said Bruce Perlowin, CEO of Hemp, Inc. “The new crop insurance option for hemp growers is a groundbreaking program because it brings hemp closer to other commodity crops and reduces risks for producers.”

 

According to a June 2019 market research report published by MarketsandMarkets™, the industrial hemp market is projected to grow from $4.6 billion in 2019 to $26.6 billion by 2025, recording a compound annual growth rate of 34.0% during the forecast period.

 

Additionally, beginning with the 2021 crop year, hemp will be insurable under the Nursery crop insurance program and the Nursery Value Select pilot crop insurance program. Hemp will be insurable if it is grown in containers and in accordance with federal regulations, any applicable state or tribal laws, and terms of the crop insurance policy.

 

To see one-minute videos of Hemp, Inc.’s current activities, visit Bruce Perlowin’s personal Facebook page, where he shares daily posts of Hemp, Inc.’s activities around the country.

 

WHAT IS HEMP, INC.?

 

What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. As a leader in the industrial hemp industry with ownership of the largest commercial multi-purpose industrial hemp processing facility in North America, Hemp, Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

 

HEMP, INC.’S PROPRIETARY HEMP FLOWER DRYING SYSTEM

 

Unwavering in its commitment to the industrial hemp industry, Hemp, Inc. disclosed the successful development of its innovative hemp flower drying system for smokable hemp flower. Highly efficient, this compact proprietary hemp flower drying system is fast, drying in only 3 days as opposed to the traditional 7 days while maintaining the critical terpene profile of the product.  To be unveiled at its Oregon location, Hemp, Inc. executives expect this advanced hemp flower drying system to bring in excess of $10,000,000 in revenue for the company from the Oregon 2019 harvest season. The drying process lends itself to creating Hemp, Inc.’s high quality range of “King of Hemp” pre-rolls and, of course, high CBD hemp flower. The sheer size and scope of the crop in Oregon is nothing short of amazing and is expected to be a massive game changer for Hemp, Inc.

 

To read the full release on Hemp, Inc.’s proprietary hemp flower drying system, click here.

THE DIFFERENCE BETWEEN HEMP AND MARIJUANA
Hemp is completely different from marijuana in its function, cultivation and application. In cultivating marijuana, the plants are spaced far apart, and the male plants are destroyed to assure that they cannot seed the female plants, which would result in undesirable, less potent and less marketable, seeded marijuana buds. Hemp, on the other hand, is planted close together and commonly hermaphrodites, which creates an abundance of seeds, the main component of Hemp foods and supplements. The Hemp stalks are processed and used for fiber, composite, and other hemp based end products.
Hemp is used in variety of other applications that marijuana couldn’t possibly be used in. These include healthy dietary supplements, skin products, clothing, and accessories. Overall, hemp is known to have over 25,000 possible applications. Hemp products such as Hemp Milk, Hemp Cereal, and Hemp Oil are used by consumers every day.
For an excellent read on the difference between hemp and marijuana, visit the Ministry of Hemp.

HOW HEMP CAN CHANGE THE WORLD

Fiber – Hemp fiber can be used to make fabrics and textiles, rope and paper. The word ‘canvas’ actually derives from the word cannabis.

Fuel – While the industrial, medicinal and commercial properties of hemp have been known to mankind for a very long time, its benefits to the environment have just been realized in recent years. One of the compelling things hemp offers is fuel. With reserves of petroleum being depleted, it would be nice if we could have a fuel source which was reusable and which we could grow right here, making us completely energy independent.

Food – Hemp seeds are very nutritious and were first thought to be eaten by the Ancient Chinese and Indians. Hemp seeds have a nutty taste and can be eaten raw, ground up, sprouted, or made into dried sprout powder. Hemp seeds also contain a very beneficial oil that is high in unsaturated fatty acids, including an optimal 1:4 ratio of omega-3 to 6.

Building Material – Hemp can be made into a variety of building materials. These include concrete-like blocks called ‘hempcrete’, biodegradable plastics, and wood replacements. These materials have been used in the manufacture of many things, including electronics, cars and houses. In fact, the first American home made of hemp-based materials was completed in August 2010 in Asheville, North Carolina.

Biofuel – Remarkably, the oil from hemp seeds and stalks can also be made into biofuels.
Biodiesel — sometimes known as ‘hempoline’. While this biofuel can be used to power engines, it does take quite a lot of raw material to produce a substantial amount.

SUBSCRIBE TO HEMP, INC.’S VIDEO UPDATES

Hemp, Inc. Presents” captures the historic, monumental re-creation of the hemp decorticator and the hemp grinding and milling facility (which has been operational for 2 ½ years now) as America begins to evolve into a cleaner, green eco-friendly sustainable environment. What many see as the next American Industrial Revolution is actually the Industrial Hemp Revolution. Watch as Hemp, Inc., the No. 1 leader in the industrial hemp industry, engages its shareholders and the public through each step in bringing back the hemp decorticator as described in the “Freedom Leaf Magazine” article “The Return of the Hemp Decorticator” by Steve Bloom.

Hemp, Inc. Presents” is accessible 24 hours a day, 7 days a week, by visiting www.hempinc.com. To subscribe to the “Hemp, Inc. Presents” YouTube channel, be sure to click the subscribe button.

HEMP BENCHMARKS

Hemp Benchmarks®, a division of New Leaf Data Services, is a leading provider of financial, business and industry data for the North American hemp markets. They offer comprehensive and unique benchmark services for public and private organizations, and financial institutions. Hemp Benchmarks’ management team has over 100 years of cumulative commodity data services experience, more than 80 years of cumulative hemp and cannabis industry experience and subject matter experts in multiple jurisdictions/geographies. Their September 2019 “Hemp Benchmarks Spot Price Index Report” is a comprehensive and valuable resource that includes the following:

  •    September Assessed Price by Product Category
  •    Monthly Biomass Volume Discount Curve
  •    Wholesale Price Correlation Matrix
  •    2019 Biomass Yield & Market Value Estimates
  •    Comprehensive U.S. State Acreage & License Counts
  •    USDA & FDA Updates

The downloadable PDF can be accessed here. Be sure to visit their site, www.hempbenchmarks.com.
UPCOMING INTERNATIONAL AND DOMESTIC EVENTS
Across the globe, the hemp industry is rising to astronomical levels. In the wake of the hemp industry projected to grow 700% and hit $1.8 billion by 2020, there has been more education and networking within the industry. That means more events and conferences, thus, Hemp, Inc. has started compiling an ongoing list of upcoming hemp events around the world.  Check out the listing of international and domestic events here.

SOCIAL NETWORKS
https://www.facebook.com/KingOfPot (Bruce Perlowin’s Facebook Page)
http://www.facebook.com/hempinc (Facebook)
https://www.hempincpresents.com (Hemp, Inc.’s North Carolina YouTube Channel)
https://www.instagram.com/hempincorporated/ (Hemp, Inc.’s Instagram)
https://twitter.com/HempInc (Hemp, Inc.’s Twitter)

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. To clarify the issue of OTC placing a stop sign next to Hemp, Inc.’s stock trading symbol, that symbol indicates Hemp, Inc. does not report their financials. As a non-reporting pink sheet company, Hemp, Inc. is not required to report. The company does, however, choose to publicly report its quarterly and yearly financials on its website. According to the company’s CEO, the OTC stop sign is a misrepresentation of that reporting fact. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.

Contact:
Hemp, Inc.
855-436-7688
ir@hempinc.com

More Contacts:
flower@hempinc.com
hempu@hempinc.com
ctinney@hempinc.com

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