The industry may be experiencing a reversal on hemp crops and pricing in the post-2018 Farm Bill world, according to the results of the
2020 Hemp Crop Survey
The survey, conducted by The Jacobsen Publishing Co., a Boulder, Colo-based commodity-price reporting agency, surmises that high hemp prices, broad support of local governments and industry groups, and the passage of the 2018 Farm Bill led to tens of thousands of new acres dedicated to hemp—perhaps more than the market demanded. ...
Prices have dropped from a high of $40 per pound to $10 per pound.
With a large percentage of those hemp crops being dedicated to making cannabidiol (CBD) products, an oversupply is not great for farmers, but could be welcome news for manufacturers and retailers looking to bring new customers into the category.