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A glut of legal marijuana is driving Oregon pot prices to rock bottom levels, prompting some nervous growers to start pivoting to another type of cannabis to make ends meet – one that doesn't come with a high. Applications for state licenses to grow hemp – marijuana's nonintoxicating cousin – have increased more than twentyfold since 2015, making Oregon No. 2 behind Colorado among the 19 states with active hemp cultivation. Oregon's inventory of marijuana is staggering for a state its size.That stark prospect is driving more of Oregon's marijuana entrepreneurs toward hemp, a crop that already has a foothold in states like Colorado and Kentucky and a lot of buzz in the cannabis industry.In Oregon, the number of hemp licenses increased from 12 in 2015 to 353 as of last week. Both have seen price drops for marijuana but not as significant as Oregon.Like marijuana, the hemp plant is a cannabis plant, but it contains less than 0.3 percent of THC, the compound that gives pot its high.
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