Jersey Hemp, a hemp producer in Jersey, has become the first company in the British Isles granted a license to harvest, process and store hemp flower for CBD extraction.
Currently, most, if not all of the CBD in UK’s retail stores is produced in China, Eastern Europe and the Americas. Jersey Hemp will be the first CBD processor in the British Isles, and the company has already seen great demand for its products.
“We’re delighted to have been given this license,” says Jersey Hemp CEO, David Ryan. “It will allow us to supply products made using CBD with clear British Isles provenance to retailers and direct to the public.”
“The market for CBD products is growing rapidly as it becomes increasingly recognized for its nutritional benefits and for general wellbeing,” Ryan affirms.
Jersey Hemp was born over 5 years ago when a former Royal Marine commando and two former colleagues ran into hempcrete while researching the combustion of building materials. It is a sustainable, fire-resistant building material made from a mixture of cured woody hemp fiber (from inside the hemp stalk), lime and water.
Excited, they sought the Jersey government’s approval, and swiftly began growing industrial hemp in Jersey. They worked closely with the local government, agricultural and environmental experts, avoiding the use of synthetic fertilizers, pesticides or herbicides.
When the hemp from the first trial was harvested in 2017, the trio found that their crop had yielded a 30% increase in fiber and seed compared to similar strains grown in the UK.
The company takes great pride in implementing best organic farming practices. It has also worked closely with soil experts to develop and grow soil microbes, giving the crop an even greater chance of flourishing. Not to mention the islands’ micro climate and fertile soils are ideal for growing hemp.
The company had been using CBD in some of its products, and Ryan says they had to import it from outside the British an Irish Isles.
“The fact that we can produce the oil for ourselves will massively reduce our costs now that we don’t have to import CBD anymore. We can do it ourselves under one roof and then sell directly into the UK and beyond. It was a no-brainer to get the license given that we were using CBD oil up till now but from foreign hemp farms.”
Currently, the UK CBD market is estimated to be worth almost $400 million, and it’s expected to rise to $1.3 billion by 2025.
It is widely expected that CBD industry players from North America, such as Lexaria Bioscience Corp. (CSE: LXX) (OTCQX: LXRP) and The Supreme Cannabis Company Inc. (TSX.V: FIRE) (OTCQX: SPRWF), congratulate Jersey Hemp upon securing a well-deserved cultivation license.
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