The growing hemp industry

The hemp industry has exploded in the past five years because of a growing demand for hemp-derived products. Many farmers are adding hemp to their crop rotation because it grows fast, doesn’t require much maintenance, has many uses, and can be incredibly profitable.

What’s hemp?
Hemp is a variety of the cannabis Sativa plant species that are grown specifically for industrial use. Hemp has been used for a variety of purposes for more than 10,000 years and is one of the oldest domesticated crops.

What can hemp be used for?
The entire hemp plant, from stalk to seed, can be used to make a number of commercial and industrial products such as rope, textiles, clothing, shoes, food, paper, bioplastics, insulation, and biofuel.

Is hemp legal?
Industrial hemp production is now legal at the national level under the 2018 Farm Bill. It’s currently legal for licensed farmers to grow hemp in 34 states.

How much has the hemp industry grown?
The hemp industry has seen a 455 percent boost in productivity since 2018 and is projected to grow at a compounded annual rate of 34 percent, from $4.6 billion in 2019 to $26.6 billion by 2025.

If you’re looking to diversify your crops, hemp may be a great choice.