A Colorado farm with over forty years of organic farming experience is capitalising on the passing of Trump’s Farm Bill by expanding its hemp production to meet the growing demand for CBD.
Wanting more bang for their bud, Blue Forest Farms are planting on more than 150 acres, in combination with 500 acres of land that was previously dedicated to growing squash and kale.
The farm hopes to grow the plant on 1,000 acres of their land this year.
McKenzie Mann, production manager at Blue Forest, told CNN that he is receiving numerous calls a day asking for tips.
“There’s a lot of excitement in the farming community because hemp is seen as a high-return crop. There are many farmers around the country who are struggling to make ends meet and they’re looking for an alternative like hemp to boost revenue.”
Expecting the business’s hemp profits to double this year, the farm are able to sell a pound of their high-quality hemp for between $35 and $40, compared to the $1 a pound that they make from kale sales.
While CBD has been a boon for the hemp industry, VoteHemp president, Eric Steenstra, said that hemp farmers would be wise to keep an eye on emerging trends.
“It’s important to take a longer-term picture of the hemp market.
“Right now, CBD is the hot commodity and is a significant driver of the market and profit for farmers. But as an agricultural crop, hemp has significant market potential for grain and fiber.”