CannabisNewsWire Editorial Coverage: The hemp industry is growing in North America and appears to be set for further expansion thanks to legislation making its way through the U.S. Senate.
- Hemp is a cultivar of the cannabis sativa plant that lacks the active drug ingredient that makes marijuana users high.
- It can be used to produce medicinal CBD oil as well as fibers for rope, paper and canvas.
- Even in difficult growing conditions, hemp can provide higher profits than many other crops.
- It has a lower environmental impact thanks to low water consumption and little need for chemical fertilizers or pesticides.
Marijuana Company of America, Inc. (OTC: MCOA) (MCOA Profile) has hemp already growing at cultivation sites in Canada and the United States, experimenting with improved strains and cultivation techniques. As a provider of hydroponic equipment, Scotts Miracle-Gro Company (NYSE: SMG) is benefiting from the growing cannabis industry and will likely see increased sales thanks to a recent acquisition. Another provider of hydroponics, GrowGeneration Corporation (OTC: GRWG), has already seen a dramatic increase in sales thanks to acquisitions and the rise of cannabis. Micron Waste Technologies, Inc. (OTC: MICWF) (CSE: MWM) is launching specialist waste treatment equipment for cannabis growers. And as federal hemp legislation comes closer to passage…
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