USDA's Bold Move: Elevating Hemp's Status As A 'Specialty Crop' What Does It Mean?

The U.S. Department of Agriculture (USDA) has taken a significant step to recognize the value of hemp by renaming a trade advisory committee to prominently feature the plant among specialty crops, indicating a growing recognition of its value as a unique commodity.

The USDA has appointed hemp industry representatives and renamed the Agricultural Technical Advisory Committee (ATAC) for Trade in Tobacco, Cotton, Peanuts, and Hemp.

Patrick Atagi, president and CEO of the National Industrial Hemp Council (NIHC), called the committee renaming a "huge recognition" by federal officials.

USDA Opens Nominations for Agricultural Trade Advisory Committees and Policy Advisory Committee

The ATACs, jointly appointed by USDA and U.S. Trade Representative (USTR), provide advice and recommendations on trade barriers, negotiation of trade agreements, and implementation of existing trade agreements.

USDA is currently accepting nominations for members of the ATACs and the Agricultural Policy Advisory Committee (APAC) until June 2027.

”Specialty Crops”

The legal definition of specialty crops includes fruits, vegetables, tree nuts, dried fruits, horticulture and nursery crops, including floriculture; it was created to distinguish them from commodity crops like corn, wheat and soybeans.

Specialty crops are recognized for their unique characteristics, marketability, and economic value.

The designation of specialty crops provides U.S. horticulturists with advantages such as funding, research programs, marketing support, and promotional initiatives, contributing to their competitiveness, profitability, and the overall growth and sustainability of the industry.

FDA Still Says No

In 2022, the hemp sector experienced a significant economic downturn, primarily attributed to the lack of FDA regulations on marketing hemp derivative products such as CBD oil.

The FDA's decision not to allow the marketing of CBD as dietary supplements or food items has left the industry without clear regulations.

Related News

Photo: Christian via Pixabay

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisGovernmentNewsRegulationsEntrepreneurshipFDALegalManagementStartupsMarketsGeneralHempNational Industrial Hemp CouncilPatrick AtagiUSDA
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis rescheduling seems to be right around the corner

Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.


Loading...