The hemp industry is booming, and it’s only going to get bigger. Hemp trading has a huge export potential as various industries such as food and beverage, personal care and cosmetics and pharmaceuticals are taking advantage of its multiple properties.
To promote Hemp exports, the government should provide the right direction, policy & regulatory framework for the medicinal cannabis industry to flourish.
Hemp production in India can have a greater economic impact on the nation than it has had in other developed countries. Start-ups play a vital role in developing countries like India because they have the potential to reinvigorate stagnant economies.
The looting, burning, and desecration of our historic sites by British troops have damaged us irrevocably. Our heritage was destroyed, and hemp products were hidden from city dwellers. We’re well aware of Hemp’s potential and its ability to assist us in improving our lives naturally, which is why we urge the government to provide the right direction, policy & regulatory framework for the medicinal cannabis industry to flourish.
The farmers of this nation have been struggling for years. They need our help, and hemp is the answer. Not only will it provide them with an opportunity to make a better living, but it will also help us move away from our dependence on foreign oil. By promoting hemp exports, we can create jobs, boost our economy, and help heal the planet. It’s a win-win for everyone involved!
The Uttarakhand government has taken the initial step toward changing its policy by issuing the country’s first hemp cultivation license. The Uttarakhand government and other organizations are assisting farmers and various groups in the hope of boosting production and expansion of the industry.
Hemp textiles are anticipated to generate around 240 Crore rupees in annual sales in Uttarakhand, and a hemp seed farmer will make approximately 1 lakh rupees from the sale of hemp each year. Hemp agriculture is more appealing since it may be cultivated in arid regions and requires little labor and equipment.
CBD Manufacturing and Export
Research and Data’s market report predicts that Cannabidiol will grow rapidly, by 21.8% in value from its current US$ 5.49 billion to reach an estimated high of US$ 26.25 billion by 2027. The global market is growing due to the various ways CBD can be used, such as in medical applications, supplements, beverages, and skin care.
With various uses, cannabidiol is projected to experience a lot of R&D investment from the pharma industry. Cannabidiol shows promise in the scientific community for its potential to treat several aircraft
The FDA has recently approved the first cannabidiol drug, Epidiolex, which strengthens some of the arguments for the therapeutic benefits of cannabidiol.
CBD was one of the top 40 best-selling ingredients in US mainstream retail outlets in 2019, for the first time.
A remarkable 872.3% sales increase of CBD was seen from 2018 to 2019 — this is the largest percentage amongst any other top 40 ingredients in the mainstream channel, following a 303% sales growth from the year before.
CBD sales amounted to $36 million in the US in the year 2021, making it the 9th most popular supplement ingredient overall.
According to World’s Top Exports, the total value of cannabis oils exported by all countries in 2019 was US$2.9 billion. A 23.3% increase in cannabis oil exports occurred starting in 2015.
As per Trade Promotion Council of India (TPCI), India was the second largest exporter in 2019, with US$ 320.8 million (11.1% share) in revenue. This is after China which exported US$ 964 million (33.4% share).
Although our export development of 12.8% is adequate, some smaller nations’ exports are many times greater. Vietnam (up 529.5%), Madagascar (up 232.2%), Morocco (up 218.1%) and the Netherlands (up 124.5%) are examples of countries with significantly better growth rates in terms of exports than we have had over the last decade or two – although they may not be considered as major markets for us now.
Where does India Export Hemp? (2020)
India is one of the largest producers and exporters of hemp in the world. The main destinations for Indian hemp trading in exports are Canada, Malaysia, the United Arab Emirates, Ghana, the United Kingdom, and Nepal. In Canada, hemp exports from India accounted for 68% of the total value of all hemp imported into the country in 2018.
Malaysian importers source 22% of their hemp from India, while the UAE, Ghana, and the UK source 2.58%, 2.57%, and 2.21% of their hemp imports from India respectively. Nepal was the smallest destination for Indian hemp exports, accounting for just 1.23% of the total value of all hemp imports into the country.
Hemp trading is revolutionizing the green economy, merging sustainability with profitable market opportunities.
Indian hemp is prized for its high quality and is used in a variety of industries including textiles, food and beverage, cosmetics, and wellness.
Where does India Import Hemp from?
According to recent data, the top three countries that India imports hemp from are Belgium, China, and the Netherlands. Belgium alone accounts for 51% of India’s hemp imports, with a total value of 55 thousand US dollars.
China is in second place, accounting for 31% of imports, followed by the Netherlands with 10.1%. Canada and France round out the top five, with 5.31% and 1.54% of India’s hemp imports respectively.
The United Kingdom is also a significant source of imported hemp for India, although it ranks lower than the other top countries at just 221 US dollars. Overall, these data show that India is heavily reliant on other countries for its hemp supply.
Hemp Production in India Today
India’s hemp trading business is flourishing as the legal landscape becomes more accommodating and the public demands organic materials.
There is a lot of money to be made in exporting CBD from India. If India wants to compete with China and other nations on the rise, it must exponentially increase production. India’s domestic market must have simpler regulations for growth. With the growth in the domestic market, India’s value-added products will become more available in export markets.
Hemp farmers are finding it increasingly hard to compete in the market because of harsh restrictions on their industry imposed by the government.
Many businesses and entrepreneurs are now coming forth to advocate the development and usage of industrial hemp in India. People are pushing for a hemp industry in India to produce an array of new products, including sunscreen, car parts, building materials, non-toxic ink, batteries, and cosmetics.
Read an article on The History of Hemp Cultivation in India to know more.
Here are just some of the companies in India emerging onto the scene of hemp in India today:
And yours truly, The Hemp Cow.
We at The Hemp Cow might not be the first or the biggest, but we are definitely the most passionate about what we do. We want to see hemp being used in everyday products, from food to clothes to building materials. We believe that hemp has the potential to change the world, and we are dedicated to doing our part in making that happen.
If you’re interested in learning more about the hemp trading industry in India or getting involved in any way, we would love to hear from you! Please feel free to get in touch.
