According to the 2019 Hemp & CBD Market Factbook, the quantity of little-scale growers operating in the hemp space surged among 2018 and 2019, driving down the median acreage of hemp operations but escalating the typical acreage.
The survey identified that respondents had planted a median of 10 acres of hemp in 2019, down from a median of 20 acres in 2018.
But whilst the median acreage has decreased, typical acres planted elevated 54% among 2018 and 2019 – from 77 to 119.
This is simply because current hemp cultivators have expanded their operations at the very same time smaller sized growers have begun operating.
Provided how experimental and risky hemp presently is, and with restricted seed availability and tiny agronomic information to go by, farmers are getting into the marketplace with fairly couple of acres.
More than time, immediately after studying how to greatest cultivate hemp on their land, they are scaling up considerably.
- It is estimated that retail sales of CBD will raise 133% in 2019 more than 2018 – due in portion to increasingly quick retail access to CBD.
- Even though making hemp for fiber/stalks and seed/grain has a decrease production price than making hemp for flower, the vast majority of producers – motivated by financial and regulatory forces – are increasing hemp for flower.
- Collectively, hemp farmers are expecting their 2019 per-acre income to double that of 2018, with hot customer demand for CBD viewed as the driving trend behind this belief.
Subscribe to our Newsletter