WDRP The hemp plant is derived from the same Cannabis genus family. Unlike its cousin, hemp contains virtually no tetrahydrocannabinol (THC), the psychoactive substance that is found in Cannabis. The main product in Cannabis is the flowers. Industrial hemp, on the other hand, refers to the use of stalks and seeds which are refined into products such as hemp seed foods, hemp oil, fiber, paper, pulp, resin, wax and bio-fuel.