Industrial hemp farming has increased dramatically in the United States over the past five years. More and more people are deciding to become part of the business, and many are making good money out of it, too. It is probably thanks to a growing acceptance of marijuana throughout the country and the wider world, and how it can be used not only for recreational purposes but as a holistic treatment for several ailments. Perhaps it is also because many people are seeking to live more organic lifestyles as concerns over the environment grow, and it has been scientifically proven that commercial hemp farming has absorbed more CO2 emissions than it produces, making it a very eco-friendly crop.
Whatever the reason, there has been a rise in the popularity of hemp and CBD products, and it’s clear that there is a demand for more. Perhaps it could be the right time to get a piece of the action? If you’ve been thinking about getting into industrial hemp farming, consider the pros and cons before you take action.
Pro: Hemp can be used for many things
The hemp plant is very versatile, and throughout history, it has been used for various purposes. Clothing, rope, fuel, food, paper, and construction materials are just some of the ways hemp can be used. The CBD compound in the plant can also be extracted and is now widely used in a variety of products, including natural medicinal remedies for both physical and mental health issues. It is because hemp can be used for so much that it makes it a good crop to grow and sell.
Con: A lot of competition
Since the legalization of cannabis in some states, there has been a sharp increase in commercial hemp farming, especially in the past two years. Most farms are selling their plants’ CBD oil extract, as these products are becoming more and more popular in mainstream markets, but this is why some farms are struggling with all the competition. It might be worth considering growing a hemp crop to harvest the seeds for dietary needs or making hempseed oil, which can be used in beauty and healthcare products.
Pro: It’s easy to grow
Hemp can grow and survive in most climates (apart from high mountain ranges or scorching deserts), but the best is a warm climate without too much rain. It is because hemp can endure less than perfect conditions that it’s a relatively easy crop to grow. Like any other crop, test the soil before you plant your hemp seeds to make sure it is in good condition for the plants to thrive. Otherwise, you may have to treat the land to get the soil up to scratch. The hemp growing cycle is between 108 to 120 days, making it a quick crop. Some other farms have hemp seeds for growing for sale to help you get started.
Con: Limited by State Laws
Although many states have legalized cannabis in full, there are still states that have strict limitations or classify it as illegal for any purpose. If you are considering starting a commercial hemp farm, you will need to make sure you understand the laws surrounding hemp in your state. You will also need to apply for a special license to grow industrial hemp and keep within the regulations. One such rule for industrial hemp farmers is that their plants have a THC level no higher than 0.3%. THC is the compound in the plant that creates the sensation of being high. It is important that you do thorough research into your state’s laws before you start making progress with hemp farming, and that you’re willing and able to follow these strict guidelines when farming your crop.
Pro: It’s a profitable crop
As mentioned above, thanks to hemp’s versatile nature, there are plenty of ways you can sell your plants. On average, it’s thought that hemp can make a profit of around $130 to $730 per acre. CBD extracts can even go up to $50, 895 per acre, which is still relatively impressive despite is value dropping from previous years due to an increase in production. However, you must sign some sales contracts with buyers before your harvest is ready to avoid wasting crops (it can deteriorate quickly).
Con: Harvesting can be tricky
Hemp may be an easy crop to grow, but harvesting it properly has proved to be a more challenging task. Many farmers have struggled to maintain the quality of their crops, and it has taken a few attempts to get it right. It’s not just harvesting the plant from the field; you also have to process the crops properly and extract CBD oils if that is what you’re growing it for. You will need to purchase the correct machinery for the job and make sure all of your equipment is properly maintained. It’s also worth noting that the recommended temperature to store your harvested crops at is 50-60 degrees Fahrenheit and with a humidity level between 50-60%.
Any farming project comes with risks. All crops can perish due to freak weather conditions, low-quality soil, or bad plants. There are also always additional costs for labor, machinery, storage, and processing throughout the year. Hemp farming has seen much success, and there is a reason more farms that specialize in this crop have sprouted up around the country. However, it is because of this rise in popularity that starting a hemp farm today might not be as successful as it was five years ago. A lot of it will come down to smart farming and high-quality crop production, as well as having a good mind for business. There certainly is a lot to consider before you start on your commercial hemp-growing venture, but if you get it right, you could make great profits and become part of this popular movement. Do further research to help you weigh up the pros and cons of industrial hemp farming and to decide whether or not it is the right move for you.
