Challenges and Opportunities for the CBD Industry

A look at hemp-derived CBD price trends in 2019 and the opportunities and challenges that lie ahead for the market.

U.S. hemp cultivation exploded in 2019 after the federal government legalized it via the Agricultural Improvement Act of 2018 (the 2018 Farm Bill). According to Hemp Benchmarks’ most recent accounting, states licensed roughly 570,000 acres for outdoor cultivation in 2019, with almost 4,000 additional acres permitted for indoor and greenhouse growing. We estimate farmers planted approximately 250,000 to 260,000 acres for cannabidiol (CBD) production. We also estimate that farmers successfully harvested and dried fewer than 100,000 acres of high-CBD hemp biomass, making it viable for processing into various CBD products.Read full article …

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