In a last minute addition to the Agriculture Reform, Food and Jobs Act of 2012, Sen. Ron Wyden (D-OR) has submitted an amendment that would legalize the production of industrial hemp, a potential new bumper crop for U.S. farmers.
“Industrial hemp is used in many healthy and sustainable consumer products. However, the federal prohibition on growing industrial hemp has forced companies to needlessly import raw materials from other countries,” Wyden said in prepared text. “My amendment to the Farm Bill will change federal policy to allow U.S. farmers to produce hemp for these safe and legitimate products right here, helping both producers and suppliers to grow and improve Oregon’s economy in the process.”
Allowing American farmers to produce industrial hemp, which is different from its more notorious cousin marijuana, would yield significant and immediate profits the first year, according to an analysis conducted in 1998 (PDF) by the Center for Business and Economic Research at the University of Kentucky.