After nearly seven years in the cannabis industry, Belushi’s Farm has entered the CBD (cannabidiol) pet products market.
In 2015, American actor and comedian Jim Belushi founded Belushi’s Farm to operate in the Oregon medical cannabis market.
The farm has grown from 48 plants in 2015 to a 93-acre cannabis farm.
Belushi tells hemp producer he’s been “flirting and reviewing” CBD for a few years to learn more about what’s in the oils, distillate, isolate, what works, what doesn’t and more. However, it was only recently that he decided to enter the market.
But it’s no surprise that entering the CBD market right now is a risk as the industry grapples with oversupply issues. CBD prices have fallen significantly since 2019 after the number of acres cultivated soared that year, hemp producer Previously reported.
Several farmers have reduced their operations and the number of acres under license has fallen from 511,442 in 2019 to 336,655 in 2020. And last year, only 70,530 acres of hemp were planted, all in an effort to solve the problem of oversupply, which remains, hemp producer reported. PanXchange, a commodity trading platform that provides benchmark prices for hemp, estimates hemp acreage will shrink even further in 2021.
So why has Belushi’s Farm entered the CBD market at this time?
For Belushi, the answer is simple. Although he said he “didn’t want to get into it and the market suddenly went down,” he is a firm believer in the medicinal benefits of the cannabinoid and how it can help consumers.
READ MORE: Jim Belushi’s cannabis mission
According to his website, Belushi’s Farm was “created as a gateway to healing,” and for Belushi, the cannabis market is “all about medicine,” he says.
“I think [cannabis] medicine at all levels is not only for Alzheimer’s disease, headaches, PTSD, seizures, back pain and pain, but it also improves the taste of food, the touch of your lover’s skin, the sound of music,” Belushi says. “It opens your chest up to the presence of music and rhythm, which cures PTSD, but also makes you feel good. It sometimes makes you euphoric; it lightens you up and brings you cultural isolation. It encompasses the wellness of cannabis, and I think hemp can do that even on a more subtle range.”
“I believe CBD hemp is our pathway to the curious new consumer,” he adds.
Belushi says he has seen the medical value of CBD and hemp. For example, he came across different protocols where CBD products with various CBD and THC ratios can help relieve cancer symptoms, which is why he decided to start small in the industry.
Belushi explains that his dog, Taro, runs around 10 miles a day on the farm and is often in pain. So, Belushi says he got oil containing both CBG (cannabigerol) and CBN (cannabinol), which he gave Taro to test if it would help with his pain.
“What’s great about animals is that you can’t give a placebo, it works or it doesn’t,” he says. “And just to see Taro’s demeanor and physique change drastically, I said, ‘OK, I’m going to use this oil. “”
Belushi started small and produced 5,000 bottles of k-9ine, a 500 milligram full-spectrum CBD tincture for pets. “I just put my foot in it, test it and see how it works,” he says. “I started it two weeks ago, and I’m doing really well.”
Although the product is currently only available for sale online, Belushi says the goal is to make it available in dispensaries eventually.
Belushi says he sourced the CBD for the 5,000 test products from a farm in West Salem, Oregon; however, he currently owns 2 acres of hemp growing on Iverson Family Farms just outside of Portland.
Belushi says he was looking to partner with the farm because it is a family business.
“They’re very diligent, they’re old school, they’re hard working, they grow tulips and it’s a nice stretch of property,” he said. “And so, I asked to engage with them and grow 2 acres of hemp for this product.”
Hemp is at mid-growth and he says he plans to source oil for his k-9ine product from there.
Belushi’s Farm is currently looking to create more CBD products for pets; however, he says he plans to go “easy and slow” due to the current “legal gray area” in the market.
“My goal is to build trust in cannabis and the medicines that can help heal families and communities,” Belushi says.