The Country of Hemp

15 May 2023
It was mentioned in the "Historical Geography of Hemp" about the use of opium in East and South Asia before its spread in our country. And how the Portuguese and English used it in the New World for anesthesia and building a docile workforce. And it addressed its crucial importance for Britain's foreign policy and trade, and touched on China's attempts to limit its export from India, which led to the Opium Wars (1839-42). Historically, the ancient Greeks and Romans used it for medicinal purposes. The ancient Egyptians, Sufis, and Buddhist monks used it for ecstatic worship. The magic plant was used as an antidote, and then as bourgeoisie pleasure before it was given to the proletariat as a psychotropic drug. 
The McKinsey report (2020) "Lebanon's Economic Vision" addressed the cultivation of hemp and estimated its profits to be $4 billion. In response, the Lebanese government issued Law 178/2020 without the implementation of decrees.
The global market for the hemp sector has changed, with increased production and decreased prices. Many countries joined the HEMP FORUM according to (HEMP BUSINESS JOURNAL 2019). It was involved in the medical, food, textile, and building construction industries. Also, they have been talking recently about the "hemp revolution" and its worldwide economic effects.
The legalization of hemp in Canada and China has led to increased production. The legislation of the 2018 Farm Bill Act allowed hemp cultivation in the United States of America, which resulted in the creation of a larger market that serves as a major global importer. Hemp has replaced soy, cotton, and canola because of its fast growth, pollution reduction, and low water requirements. Its fibers, seeds, and flowers are all utilized. Its cultivation is expanding in China. Today, its prices have decreased by 94% compared to 2019.
This is what makes McKinsey's estimates forty-two million dollars today, assuming that all other factors remain constant, all assumptions are accurate and the study's foundations are solid.
The Regie is collaborating with LAU (Lebanese American University) to complete a feasibility study based on reliable data, considering both constants and variables. Additionally, it is important to determine where investment should be directed, whether in fibers, flowers, or seeds, and for what purpose.
In "Toward a Regulatory Framework for the Legalization of Hemp", Philippe Cyrenne and Marian Shanahan (2018) emphasized the necessity of understanding the market and the regulatory frameworks of the relevant state.
Therefore, it is essential to first study governance, regulation, and oversight. Secondly, consider the costs of social exchange. Thirdly, ensure the quality of contract enforcement and penalties. The hemp market is evolving with lower prices and costs, increasing quantities, improving quality, and the disappearance of institutional obstacles. Economic feasibility and profitability will determine the advantages of countries in producing it. We thank President Berri for his support in supporting the correction of its course to serve the economy and the people. However, there are political, legal, and tax challenges that must be addressed. The challenge is to prevent markets from getting out of control again and for the costs to not outweigh the benefits. This sector should not be liberalized as some suggest. The approach to this issue should be precise in a country where its market is influenced by gangs who thrive on extorting and blackmailing entrepreneurs. We await the results of a study on a plant that will hopefully establish new regulations amid the deterioration of governance, the judiciary system, and the unrestrained thirst of gangs and their "tensions." Can CBD alleviate inflammation, anxiety, and tension for a frustrated society, and can THC calm the madness and provide relief for those drowning in despair? People are starving in Africa while Americans are obese. Lebanese die from car accidents, excessive alcohol consumption and smoking.
The role of governments is to intervene in regulating markets by raising awareness, imposing taxes, ensuring quality control, curbing black markets, and suppressing gangs that hinder growth.
The study will be completed, but will the project of establishing a state that develops and regulates markets be completed?
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