Following the passing of the Farm bill that legalizes hemp Marijuana Company Of America Inc (OTCMKTS:MCOA) are expecting big changes in the business. The legalization of hemp brings a lot of exciting prospects that CBD companies are looking forward to regarding investment.
Developments in hemp farming
For decades hemp farming has been illegal, but that is set to change after House representatives in Washington agreed to pass the Farm Bill that makes hemp legal. In the last four years, there have been pilot programs aimed at testing hemp market potential. From the pilots, it was established that there is a growing demand for hemp products as well as the market being profitable which led to the passing of the bill.
MCOA has been on an upward growth, and they are likely to be the biggest winners of the legalization of hemp. Reforms in hemp farming were initiated in2014 when companies such as MCOA started a farm in Oregon. Although the process of legalizing hemp has taken long, it is finally legal to farm hemp in the United States, and farmers can start farming by January next year.
The expected reforms will bring considerable changes in the farming of hemp in the United States although liberal laws in places like Canada have given farmers a head start to farming. MCOA is anticipating to pursue profits from both Canada and US as they already have made an effort to form a partnership with Global Hemp Inc. MCOA is expected to make profits from the harvest in the Oregon farm where they are already cropping high CBD content hemp.
The passing of bill has necessitated hemp companies to start strengthening their market positions, and MCAO has done so by improving their technology of drying hemp as well as constant training of their staff. As part of the strengthening strategies, MCOA’s subsidiary hempSMART is in partnership with asseenontv.pro that they expect to carry out television campaign to advertise their products.
According to MCOA CEO, the company expects to continue growing their brand by having more partnerships that will make them grow owing to their unique CBD formulations.