Overhyped hemp? Amid major price drop, and a big bankruptcy, Kentucky hemp farmers feel burned
Ohio Valley ReSource
John Fuller is waiting for another farmer he’s never met before to talk about a situation he never imagined he would be in.
It’s an overcast January day on his farm in west Kentucky, where he grew 18 acres of hemp last year, investing more than $250,000 of his own cash. He’s one of nearly 1,000 licensed hemp growers in 2019 who helped grow Kentucky’s biggest hemp crop since the state reintroduced it, trying to cash in on what could be a $1 billion industry for CBD products made from hemp.
But now, Fuller is wondering how much of that investment he’ll get back.
“There’s some pirates that are out here. Just pirates. Us trying to get with a good, ethical processor has been a real, real challenge for us,” Fuller said.