Young Hemp Industry Experiences Struggles
The popularity of hemp farming has exploded in the United States this past year, reports National Public Radio, but the young industry is experiencing struggles. About 90% of hemp is grown for cannabidiol, but growers are challenged with production of a crop that can turn from being high quality to having illegal concentrations of THC overnight. If THC goes over the legal limit, crops must be destroyed, resulting in losses for the grower. Also, a glut of hemp on the market has overwhelmed processors and caused prices paid to farmers to drop. Some farmers have opted for the long-term fiber and seed market, but these producers also face equipment, processing, and marketing challenges in a young industry.