Hemp Farmers See Market Price Plunge

From The Center Square:

State’s first hemp harvest exceeds what farmers can market

  • By Pat Morris | For The Center Square

(The Center Square) – When Illinois legalized hemp planting in 2018, nearly 600 farmers began growing a plant that had not been cultivated since WWII, and they had high hopes.

But, in the short term, the boom has gone bust.

Andy Huston, who began growing hemp in 2014 under the aegis of research, said that a lack of infrastructure, incomplete USFDA guidelines and the COVID-19 pandemic, have put a damper on the industry.

As the price has plummeted from $40 a pound to $5 or $6, about half of those who planted last year have decided they cannot afford to do so again.

Snags exist in both sides of the industry: cultivation for CBD oil, and the “fiber” sector, which is everything from textiles to concrete to byproducts used for cattle feed.

“Anything that’s made out of plastic can be made out of hemp,” he said. “But hemp has to be cost-competitive with the plastic products.” Current infrastructure, though, is set up to process plastic products, and few if any companies are investing in hemp processing in a tight time.”

And while CBD oil is growing in popularity as a remedy for many things that ail you, Huston said, the FDA is now looking at the oil less as a supplement and more as a drug, limiting sales.

“Right now we produce more than the retail market can handle, until the FDA comes out with their guidelines and opens up the market a little.”

But he said he still expects hemp to boom eventually.

“It may take three or four years on the cyber end of it for that to get up and going. With the CBD market, if they opened it up with the FDA, I could see that when they put those guidelines out, that’s going to create a huge demand for CBD.”


Comments

Hemp Farmers See Market Price Plunge — 10 Comments

  1. I’ll give them $10 per pound and take a thousand pounds.

  2. If US farmers were not subsidized to grow corn seed for ethanol, and energy companies were interested in ethanol created from the entire hemp plant through the process of cellulistic ethanol conversion, and Trump would promote it…hemp could be more profitable than corn.

    Does Trump know what hemp is?

  3. And plastics are derived from petroleum, at record lows.

    Tough luck druggies!

    How about selling hemp igloos to Eskimos?

  4. LMFAO, come on, it’s a weed, not much skill is needed to grow it.

  5. Anonymous fools posting ignorant comments here obviously have zero understanding of Hemp.

    Hemp could restore the farm economy, but the agribusinesses/lobbyists that make money selling chemicals to grow corn and cotton do NOT want farmers growing a valuable alternative that requires ZERO herbicide.

    It is all about money , period.

  6. Correction to my previous comment… it is not all about money.

    Jesus Christ, my Lord and Savior said:

    “The LOVE of money, (greed) is the root of all evil”.

    Money is a tool, an energy that motivates humans, but no other life form.

    Used properly, justly, generously, wisely, gratefully…money can fuel the ambition of mankind to overcome all obstacles.

    Hopefully making this beautiful, unique planet a better place for future generations.

    To God be the Glory!

    Have a wonderful weekend outside!

    Gary and Daisy

    PS: We MUST retain our Freedoms and Liberty to make the above happen, and thanks to all those died defending these blessings.

    Please remember those who perished on The U.S.S. Liberty and learn from this how governments can LIE to get involved in war…and then apply that knowledge and experience to the war we are in now. Oops, I meant wars we are involved in now.

    Then study the three year engineering study by the University of Alaska regarding a most unusual event…the perfect collapse of Building #7 on 9-11-2001. http://www.aetruth911.org

    Again, our government/media LIED to us, thrusting us and other countries to a most disastrous military campaign.

    Government/media lied to us about Hemp, until WWII, when our imports from Asia were cut off. Now it was “Hemp for Victory!”

    Without farmers growing hemp, and thousands of citizens processing hemp into lubricants for machine guns, nothing better, to canvas for just about everything from stretchers and tents to shoelaces.

    The Navy used tons per ship.

    You get the picture.
    Oh yeah, then they lied to us about cannabis. Started another war, Americas longest war, the drug war. Study history folks!

  7. I believe Gary too, but guess what EVERYTHING IS SEEING A MKT PLUNGE.

  8. Hope y’all had a great day outside!

    Hopefully we all are seeking truth, for knowledge is power.

    James Corbett is my go-to guy for truth explained.

    Sad to watch Sec. of State Pompayo brag about taking courses while in the CIA about how to “lie, cheat and steal”.

    And the crowd laughs.

    Big joke?

    You can search online to see his actual words.

    No wonder the US is considered a rouge state by many around the world.

    They lied claiming cannabis is more lethal to humans than tobacco…one joint equals one pack of 20 cigarettes, they said .

    Hmmm, let me think…tens of millions of Americans have died from nicotine poisoning, yet not one death from cannabis poisoning.

    Nicotine has made the pharmaceutical industry unbelievable amounts of money selling drugs to cancer patients.

    And did you know the cure for cancer has been ignored by the medical establishment?

    Search Dr. Brisinski cancer case.

    Or Rick Sampson Hemp Oil.

    Never give up!!!

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