The Marijuana Company of America has begun its 2019 harvest at its CBD hemp farm in Scio, Oregon, after successful testing.
With its joint venture partner - Global Hemp Group - the hemp and cannabis corporation has created joint venture subsidiary ‘Covered Bridge Acres (CBA)’ which owns the hemp biomass that runs across 35 acres and incorporates environmentally-friendly and biodegradable methods.
Pre-harvest testing from the Oregon Department of
Agriculture on the current hemp crop was conducted at the farm and the results
of these tests determined that the hemp crop was compliant in THC levels, the company
announced.
CBA has begun a selective harvest of buds concurrently with
the general harvest for extraction and will be completed during the current
quarter.
Strains selected for this year’s outdoor crop are low in THC and are expected to produce CBD levels near 20%. Similar strains are being grown in the greenhouses for the autumn harvest programme.
“The initial results of this harvest in Oregon are
incredibly promising,” Donald Steinberg, CEO of Marijuana Company of
America.
“Our commitment to growing only of the most robust and
quality plants are providing us with excellent returns that we are confident
will be greatly appreciated by our growing customer base.
“As demand for CBD products continues to escalate, we remain
focused on expanding our market footprint, enhancing brand recognition and
capturing additional market share.
“We believe that this harvest is an important step in our growth trajectory and in establishing ourselves as a market leader in this emerging industry.”
As of August 2018, there were 27,424 acres of hemp being grown across the US. Now an estimated 128,320 acres of land are dedicated to the crop.
Hemp farms can net the farmer around US$30,000 per acre, while soybean can only earn around $500 per acre.
