Optimism around a three-day hemp auction in Tennessee turned to disappointment when producers found way more sellers than buyers, driving prices down and leaving some frustrated.
Passage of the 2018 Farm Bill and the rise of CBD as a nutritional supplement has led to a boom in hemp cultivation over the past year. According to the U.S. Hemp Market 2019 State Rankings Report, the acreage for licensed hemp cultivation has risen by 328%, from 112,163 acres in 2018 to 480,334 acres in 2019.
The industrial hemp market is rapidly transforming into a national commodity. This progression got a little bit clearer with the recent release of the U.S. Department of Agriculture’s (USDA) draft rules. These not only provided more guidance for farmers, processors and buyers working in this growing industry, but may also mean a significant new range of diverse job opportunities for senior executives right through to technologists and laborers.
It’s the first harvest season since the 2018 U.S. Farm Bill was signed into law — and hemp farmers, investors and analysts are working the fields and crunching the data, working diligently to better understand the potential of the plant that was federally legalized through its passage.And while those experts are saying that the biggest lessons are yet to be learned, the fundamentals of a fledgling market are beginning to fall into place in the first state to fully regulate the plant and its intoxicating cousin, marijuana.
After years of falling crop prices, some farmers see a lifeline in hemp.Thanks to recent changes in federal legislation, hemp, while still minuscule as a share of U.S. agricultural production, may offer growers outsize profits compared with more traditional crops.
DENVER, Oct. 3 (UPI) — A glut of CBD oil on the market, severe weather and a complex harvesting process will make this year’s first mass hemp crop in 80 years in the United States a disappointment for many farmers. As harvest season winds down and winter frosts threaten the northern United States, hemp is proving to be a complicated plant for farmers to harvest and process. Buyers for the crop are tapped out, which is driving prices down, industry observers say.
How to Capitalize on Emerging Trends in the Legal U.S. Hemp Market, led by PanXchange CEO Julie Lerner and PanXchange Director of Hemp Markets RJ Hopp. We hope you learned a bit more about how to watch this new industry develop and how to analyze trends that can benefit your business. If you were unable to attend or would like to re-watch the webinar, you can follow the link below to access the recorded version of the webinar.
Hemp bechmarks, indices, assessed prices, and reference prices: What are they and why do they matter?
Trade wars have crushed US grain sales. Tobacco is in terminal decline. However, for farmers in Kentucky the future may lie in a crop of the past: hemp. The fibrous plant once prized for rope and sailcloth is poised for a second life as a source of cannabidiol, or CBD, a substance added to everything from hamburgers to dog treats, which enthusiasts claim has therapeutic qualities.
We often get asked, “What’s the price of CBD per pound?”
And the answer is: That depends on a lot!