MAINE SUNDAY TELEGRAM • January 3, 2021
Hemp was supposed to be the next big thing for Maine farmers, an easy-to-grow cash crop capable of fetching as much as $250,000 an acre when sold for CBD, the non-psychedelic derivative of cannabis that can now be found in almost every prominent wellness product line in the world. But after three years of rapid expansion, Maine’s emerging hemp industry has all but collapsed before it even had a chance to mature, the victim of a flooded national market, unfavorable federal regulations, a resulting price drop, bad business deals and a gold-rush mentality.