The demand for hemp in 2015 will far exceed the available supply, according to estimates by industry experts. As hemp becomes more widely used in a number of products, from food (such as smoothies, cereal and salad dressing) to fuel, the demand for cannabis’s cousin is skyrocketing—particularly in the United States. However, Canada grows most of the hemp consumed in the US, and the country’s current crop is only on par with last year’s yield of 100,000 acres.
Quality hemp production ranges from 750 to 1,000 pounds per acre, but 90 percent of this year’s total has already been sold to five major Canadian processors.
The average price for hemp fluctuates from 65 to 85 cents per pound. Hopefully, the US will gain a share of this emerging market as…