New Mexico cannabis company expands to include hemp
ALBUQUERQUE, N.M. (AP) — A New Mexico cannabis company says it’s expanding its business to include hemp.
Ultra Health says in a Monday news release that it was awarded continual production licenses to grow hemp at its Bernalillo and Tularosa sites and will dedicate 872,000 square feet of its operation to hemp cultivation.
President Donald Trump last week signed a bill that removes hemp from the Controlled Substances Act.
The Farm Bill also legalized interstate commerce of hemp products, giving hemp farmers access to crop insurance, and empowering state and tribal governments to impose separate requirements on the production and sale of hemp products.
Hemp supporters in New Mexico have said the product could prove lucrative for farmers because the crop can be used to make a variety of products such as clothes.