Hemp Inc (HEMP)

[worldisfullofDerps]

2018, NC did 910,000 acres in corn, and 1,650,000 in soybean.

I understand hemp has a long way to go, nationally and state-wide. However, please keep in mind that hemp was legalized at the state level in 2015, started test plots in 2016, and didn't start officially reporting acres until 2017, then legalized at the national level not even half a year ago.

Since then, NC has ramped-up from just under 1,000 acres harvested in 2017, to a little over 3,000 acres harvested in 2018, to now nearly 13,000 acres licensed for 2019.

Nationally, bean has been taking a beating due to tarrifs. Farmers are growing at a loss.

At the soybean market price peak in 2012, farmers were able to make $160 per acre after costs. But now, thanks mainly to the trade war, prices have fallen so far that farmers have gone from making a modest profit off their crop to losing approximately $20 per acre of soybeans. Projections for 2019 are dire, with farmers set to lose $47 per acre.

Meanwhile, hemp has become a profitable crop.

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. Similarly, 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 in the emerging US market.

I think we will see more farmers turn to hemp, and as more and more manufacturers and retailers transition to a more sustainable, eco-friendly crop, hemp will continue to see increase in demand, both on the consumer and production side.

Lol, corn has been free to grow for centuries. Hemp awaking from decades long slumber.

It's all a matter of time. Critical mass will arrive, eventually.

FLOODGATES