The state has licensed 1,342 growers to plant 46,219 acres of hemp this year, according to the Oregon Department of Agriculture. Nearly 7 percent of Americans are already using cannabis oil, better known as CBD, according to a January consumer survey from Cowen & Co. It also predicts the market could reach $16 billion by 2025.
With the CBD boom only expected to continue, it has turned hemp into a real cash crop for farmers. That includes smaller farms that are planting their very first acre of hemp this season, competing in an industry that is exploding with potential.
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