Can Hemp Grain & Fiber Acreage Eclipse CBDs’ This Year?

The magnitude of oversupply in the CBD market this year could reduce the amount of hemp acreage dedicated to cannabinoid production by more than 70% from 2020. Though total U.S. licensed hemp acreage in 2020 declined by 30% from its peak in 2019, it still produced more material than the industry could process and sell: Much more.

Such is the extent of the glut of biomass in the market that many extractors are still using material from 2019 crops to make their products. Consumer demand for CBD products is still growing, and quickly, but the requisite amount of acreage necessary to feed that demand is drastically smaller than what was grown in 2020. Read more …

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