Here’s some market advice: Now might be a good time to invest in hemp.
It wasn’t that long ago that the mere mention of hemp — a strain of cannabis which looks like marijuana but lacks the “buzz” — produced giggles. Now it produces policy papers.
Both the Democratic and Republican candidates for governor have endorsed hemp — “industrial hemp” is the preferred formulation, to emphasize the manufacturing potential for the fibrous stalks and oily seeds.
Meanwhile in Congress, the chairman of the House Judiciary Committee, our own Rep. Bob Goodlatte, R-Roanoke County, has proposed changing federal law to open the way for full-scale commercialization of hemp.
Right now, hemp exists in a hazy no-man’s land of the law. Since 2014, federal law has allowed states to sanction hemp for “research purposes” and most states — including Virginia — have done so. However, federal law also still classifies hemp as a drug, even though it can’t get anyone high.
Within the confines of federal law,