Hemp production surplus, fewer growers, higher prices

The Benchmarks report says there's been a notable contraction in permitted hemp production capacity this year, with U.S. licensed acreage down more than 30% from 2019 and indoor and greenhouse square footage falling 64%.

"If proportions of planted and successfully harvested acreage this year are similar to last year, it should result in a substantially smaller supply of CBD and other cannabinoid-rich biomass from this year's crop, relative to 2019," the firm says.

The good news, according to the Bloomberg.com article, is that this is beginning to affect prices, with stabilizing rates in recent months and even slight upward trends for some products, like smokable bulk CBD flower and refined hemp oil.

Read more here.

Source and Photo Courtesy of Greenhouse Grower

Source: Greenhouse Grower