In a short answer: No.
Why wouldn’t delta-8 and the National Hemp Growers Co-op be a good match? Here are a few reasons:
1. CBD glut. We want our growers – in particular those who are new to agriculture – to see their dividend checks show up sooner than later. Unless you just found out about the hemp industry within the last 15 minutes, you know there is a serious over-supply of CBD oil and finding new twists like delta-8 is not in the best interest of co-op members.
2. Bait and switch isn’t good business. While there are plenty of articles and what delta-8 is (it was part of our Bradley-Arant legal update on yesterday’s Webinar Wednesday) the idea of using “it depends on what your definition of is is” is not the way to bring transparency to the hemp industry. Delta-8 fans may have found some temporary wiggle room to sell products but we think we should go above and beyond and remove even the hint of skirting the rules and regs.
3. “Don’t Invite Trouble”. The hemp industry doesn’t need to give our detractors any ammunition to kick us in the teeth. Hemp is hemp because it is not intoxicating. Legislators and regulators need to trust that legitimate advocacy organizations like the U.S. Hemp Roundtable are telling the truth about hemp’s benefits for the health and wellness when they lobby on behalf of the industry.
4. Fiber is indeed the future. We hope all CBD extractors make enough money to embarrass Jed Clampett but we believe the long-term benefit for our growers is to find markets for grain and fiber. Projects like our biocrude/renewable natural gas project and other fiber/grain value-added manufacturing we are doing takes us out of the delta-8 discussion.
We hope this issue gets nipped in the flowering buds quickly.