Order always follows chaos…
And some hemp experts are predicting this will be the year the crop settles into some semblance of stability.
If you grow hemp or work in the industry, this is the good news you’ve been waiting to hear.
In 2019, the pendulum swung far to the extreme of overproduction. Then, in 2020, so many wary farmers, manufacturers, and investors took the opportunity to course-correct.
Now, with two years of nascent development beneath our belts, the hope is to ride the wave of equilibrium…
And open the doors to immense profits.
Keep reading to discover some of the biggest projections and recommendations for 2021.
Consider Farming for Hemp Fiber and Grain
We’ve all heard our fair share about CBD, and there will still be a market for the production and exploration of the cannabinoid.
Now is the time to let hemp fiber and grain have their time in the sun. (Literally.)
Keep in mind, the textile market is a long-term game. But if you do it right, experts predict there will be more opportunities to partner with other expert players on both a national and international scope.
Take Ben Brimlow, an IND Hemp agronomist, as an example.
Brimlow told Hemp Benchmarks he contracted 9,6000 acres of hemp grain production in 2020.
This year, he could end up contracting up to 20,000 acres…
And expanding his network of farmers to new states.
Preparation and Proactivity Are Keys to Profiting
If there’s anything we’ve learned in the last 2 years, it’s that a winging-it approach to hemp farming and processing does NOT hold its weight in value.
But those who do their due diligence are starting to see the payoff.
Gregory Nicholas, a fourth-generation row crop farmer from Iowa, stresses the importance of being proactive — not reactive — to get high-quality hemp yields.
By consulting with experts and staying laser-focused on the fields, Nicholas told Hemp Benchmarks he was able to yield roughly 26,000 lbs of plant material.
And one of his biggest takeaways from last season?
It’s better to start small and climb the learning curve with success, than start BIG and end up with an unfixable disaster.
A Few Words of Caution…
The clouds may be starting to part for the hemp industry.
And this could be the golden moment so many farmers have been waiting for.
Still, there are a couple of important things to note before turning the corner on 2021.
For starters, a few bad actors are still weaving their way through the web of well-intentioned hemp farmers…
Eager to scam them into purchasing bad seeds…
Or put their pen to misleading contracts.
So in 2021, make it a priority to only purchase seeds from vetted sellers and do extensive research before signing any papers.
And equally important…
Don’t overestimate the demand for hemp!
And don’t farm more than what the production lines can handle.
Remember, the hemp industry is still in the process of stabilizing from the overwhelming supply of CBD and a lack of infrastructure to support so much biomass.
So it’s CRUCIAL you have all your ducks in a row – and a home for your hemp – when you’re playing your cards in 2021.
Kyle Bingham, from the Texas Hemp Growers Association, made this point clear to Hemp Benchmarks:
“If you don’t have a contract or if you don’t have a home for your hemp, you shouldn’t be growing this year.”
Bear in mind that the tides are turning, albeit slowly.
Stay cautious and prepared, and continue to advocate for the multifaceted benefits of the hemp plants.
Together, we’ll make 2021 the first year of blue skies for the industry.