Hemp farming in the United States has gotten off to a slow start this year, according to a report by Ganjapreneur and the US Department of Agriculture’s (USDA) National Weekly Hemp Report. Only about 10 acres of hemp have been reported to the Farm Service Agency (FSA), compared to roughly 100 acres reported during the same time period last year.
Hemp is primarily grown for seed production and extraction of cannabinoids. The USDA National Hemp Report revealed that there was a 12% increase in retail ads for hemp products from last week, and 14% growth since last year, even though the number of advertised hemp products went down by only one.
The prices of most hemp products remained stable with minor fluctuations, except for an increase of 25% in the price of 16 oz. organic hemp seed and a 19% drop in 7 oz. organic hemp seed prices. Hawaii experienced no change in hemp prices.
The USDA’s weekly National Hemp Report provides detailed insights into U.S.-produced hemp including cost data, insurance information and shipping pricing, as well as giving nationwide and regional retail prices for different types of hemp-related products.