The hemp farming industry is growing and I’m curious about it. What can a mid-size farm make in the hemp business?
One acre of hemp can yield an average of about 600-650 pounds of grain. Right now most places will process that into 22 gallons of oil or about 500 pounds of meal. If you’re talking about industrial, that same acre will produce an average of 5,500 pounds of straw, which can be processed into approximately 1,300 pounds of fiber. The industrial side of hemp is going to be the way to go long term. Hemp grain can sell for anywhere between $0.50-$0.65 per pound (but this fluctuates), and on average, hemp farmers get about 1000lbs of hemp grain per acre. Hemp grain can sell for anywhere between $0.60-$0.65 per pound, and on average, hemp farmers get about 1000lbs of hemp grain per acre. After taking into account costs, which can range from $300 to $350, farmers can make around $250 to $300 per acre. Hemp fiber sells for approximately $260 per ton. On average, hemp crops can yield about anywhere between 2.5 to 3 tons of hemp fiber per acre, which means after costs farmers can make upwards of $480 per acre in profit. Much of the fiber market depends on industrial processing capacity, and at present, there is little.
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