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On November 13, 2024, the Brazilian Superior Court of Justice (STJ) made a ground-breaking decision that could reshape the nation’s approach to industrial hemp.

The Republic of Moldova, a small Eastern European nation nestled in the Balkans, has taken a significant step toward diversifying its agricultural sector. The government has approved amendments to regulations governing plants with narcotic or psychotropic substances, paving the way for industrial hemp cultivation.

New York’s legal cannabis industry has hit a major milestone, surpassing $1 billion in total sales since its launch in late 2022. Governor Kathy Hochul heralded the achievement as “a testament to the hard work of those who helped build the strongest cannabis industry in the nation: one that prioritizes equity, ensures public safety, and empowers communities.”

Canadian producers shipped in $55 million in hemp seed products to the US in 2024. $46.2 million worth of food seed, $5.9 million in oilcake and $3.3 million in hempseed oil, with most of the supplies coming from the province of Manitoba ($52 million), according to a final USDA report from last year.

The global industrial hemp market is on a rapid growth trajectory, with projections indicating a compound annual growth rate (CAGR) of 20.1% over the next several years.

Botswana, a nation long reliant on diamond mining as the backbone of its economy, is exploring new horizons. President Mokgweetsi Masisi has signaled a strategic shift toward cultivating hemp and medical cannabis as a means of reducing the country’s dependency on diamonds.

In a landmark move, Moldova has officially legalized the cultivation of hemp for seed and fiber production, opening the door for economic opportunities in agriculture and industry.

Since hemp was re-legalized for cultivation in the United States in 2018, the plant has been riding a wave of excitement. The CBD craze may have stolen the spotlight, but hemp is proving itself to be much more than just a wellness trend.