hemp industry

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California: Sipp Industries Forms New Business Unit For Bulk Hemp Distribution

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Sipp Industries, Inc., a diversified conglomerate corporation specializing in technology and distribution of consumer products, on Tuesday announced the formation of a new business unit dedicated to serving the growing hemp industry.

The new Sipp Industries Hemp unit will have large-volume hemp ingredients available including: Toasted Hemp Seeds, Hulled Hemp Seeds, Hemp Protein Powder, Cold-Pressed Hemp Oil, and Purely Refined Hemp Oil, according to the company. Each ingredient will be available in both Organic and Natural.

"These Hemp ingredients can be used in various applications from packaged Hemp products, nutritional bars, smoothies, salad dressings, body creams and moisturizers," Sipp Industries' prepared statement reads.

"Hemp is in high demand especially in market segments such as Food and Beverage and Nutritional Supplements," said CEO Syman Vong. "We have witnessed many new hemp infused products coming to market such as hemp-infused energy drinks, hemp meal replacements and hemp body creams. We anticipate this trend to continue and intend be the one-stop shop for U.S.-based high-volume commercial consumers and manufacturers of hemp products."

Current estimates of retail hemp sales in the U.S. exceeds $300 million per year and growing. As of today and for the foreseeable future, due to federal restrictions, there is little current commercial production of hemp in the U.S. and the market is dependent upon imports.

Kentucky: Hemp Industry Growing, Attracting Processors, Investment

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By Steve Elliott
Hemp News

Kentucky's industrial hemp crop is growing and bringing new investors to the state, Agriculture Commissioner James Comer announced at a Tuesday news conference in Lexington.

According to Comer, 121 participants have been selected to grow hemp this year, including seven universities across the state, reports Janet Patton at the Herald-Leader. Thirty-six groups and projects will grow 1,742 acres of hemp this year, he said.

Last year, the first in decades that a legal hemp crop was grown in Kentucky, saw 20 farmers growing just over 33 acres.

The re-emerging industry has attracted 24 licensed hemp processors who are investing in the state, according to Comer.

"With their investment, jobs have been created, jobs are going to be created, and they've signed contracts with family farmers," Comer said. "Hemp equals jobs and true economic growth, which is what we predicted when we launched Senate Bill 50 two years ago."

Among the investors are Colorado's Stanley Brothers, who said on Tuesday they plan to grow hemp in Kentucky for their Charlotte's Web CBD oil, used to treat seizures in children. Joel Stanley, CEO of Stanley Brothers Social Enterprises, said they plan to invest at least $500,000 this year.

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