Washington hemp pioneer has crop, but needs market

Submitted by Norm on Fri, 10/13/2017 - 23:21

An entrepreneur at the forefront of establishing hemp in Washington says that he has harvested his first crop but doesn’t know what he’ll do with it, underlining the unpredictable future for sober cannabis in the state.

Cory Sharp said Oct. 9 that he figures he can store for a couple of years an estimated 70,000 to 80,000 pounds of hemp grain. He said he’s trying to line up financing for a plant to make hemp-seed oil, sold as a nutritional supplement.

“It’ll take millions to do it right,” he said. “It’s a lot of capital, and there are a lot of hurdles.”

Sharp, owner of HempLogic, oversaw last spring the first planting of hemp under rules set down by the Washington State Department of Agriculture. The rules carefully followed federal limits on cultivating hemp plants, which remain a federally controlled substance, even in states with legal recreational marijuana.

The grain harvested in Grant County by Sharp are viable seeds, so they can’t cross state lines. They must be processed in Washington.

“We’re out of harvest and trying to find homes for things,” Sharp said. “We have to find a market before we do anything.”

Read more at http://www.capitalpress.com/Washington/20171012/washington-hemp-pioneer-has-crop-but-needs-market