Hemp grown for fiber was estimated at 33.2 million pounds; production used totaled 27.6 million pounds. The harvested area for hemp grown for fiber was estimated at 12,690 acres. The average yield of hemp grown for fiber was estimated at 2,620 pounds per acre. Cyrus said that anecdotally, he knows of at least a million pounds of hemp plants and thousands of kilos of hemp oil stored in his area.
When determining whether or not to participate in the hemp industry, it is essential to understand the potential benefit per acre of growing hemp. So far this year, nearly 107,000 outdoor acres have been licensed, according to Hemp Benchmarks, a hemp industry data provider based in Stamford, Connecticut. However, the segment of the industrial hemp market for which you grow your crops will have a serious impact on the earnings per acre of your hemp crop, as well as the equipment you need and the way you plant your crops. Growing hemp specifically for the smokable hemp market is the most complicated but also the most profitable.
Hemp grain and hemp fiber still show positive returns above variable costs (assuming application and licensing fees are spread over The sessions emphasized that Canadian hemp markets were slow to develop, Teske said, and advised Kansansans to ensure buyers before planting a hemp crop. Indoor space licensed for hemp production has grown, reaching more than 168 million square feet this year, according to Hemp Benchmarks. The profit per acre from growing hemp will depend mainly on the type of hemp crop you plan to harvest. Growing in indoor spaces or greenhouses authorized for hemp production shows the market shift from CBD to flowers, as farmers looking for that product tend to grow their plants indoors, said Ian Laird, CFO and CEO of Hemp Benchmarks.
