5@5: Hemp Farming Act would legalize commercial cultivation | Plant-based ingredient maker Naturex sells for $1.6B

McConnell to file Senate bill to legalize hemp as an agricultural product

Since a provision in the 2014 farm bill allowed for hemp to be grown for research purposes under the watch of states, cultivation has grown rapidly, especially in Kentucky and Colorado. The bipartisan Hemp Farming Act of 2018, proposed Monday in the Senate, would remove federal restrictions on growing hemp and allow it to be sold as an agricultural commodity across the country. Senate Majority Leader Mitch McConnell of Kentucky introduced the bill on Monday with support from Kentucky Commissioner of Agriculture Ryan Quarles. Read more at WDRB…

Organic never comes cheap, as this deal shows

Flavor maker Naturex has sold, and with a hefty price tag. Swiss fragrance company Givaudan SA has agreed to pay $1.6 billion for Naturex, which makes flavors and fragrances from plants rather than chemicals. In the first step of the transaction, Givaudan bough 40.6 percent of Naturex’s shares, and then will begin a tender offer for the remaining shares at the same price. Read more at Bloomberg Markets…

Meet the 21-year-old entrepreneur and animal rights activist bringing vegan milk to India

Abhay Rangan ran two animal rights nonprofits before starting Veganarke (recently rebranded to Goodmylk) to meet demand for affordable vegan alternatives to everyone in India. He and his mother started out making almond and coconut milks in their home; as word spread and business picked up, they outsourced logistics and moved into a manufacturing facility. Now the company has developed a shelf-stable vegan yogurt made from peanut and rice curd. “None of the big players in the plant-based milk market in India are currently focusing on other products such as cheese or butter,” Rangan says. “We aim to make a wide range of plant-based dairy alternatives accessible under our brand.” Read more at Forbes…

After 3 decades, Washington state bans Atlantic salmon farms

Gov. Jay Inslee approved a law to end Atlantic salmon farming in Puget Sound because of its risk to native salmon runs. All remaining Atlantic salmon farms, all owned by Cooke Aquaculture, will be gone by 2022. Read more at NPR…

Health food store Herban Market prepares for restaurant expansion this summer

Brentwood Tennessee’s Herban Market opened in 2015, caught on after about a year in business and is now ready expand into the empty space next door with a field-to-fork-style restaurant. Read more at Brentwood Home Page…