US Hemp Harvest Production Declines More Than 50%
The 2022 hemp harvest in the United States, which was seen as having a bright, prosperous future just a few years ago, is now expected to decline by more than 50%. This year's output is estimated to be about 20,000 acres, down from approximately 36,925 acres in 2021, according to the June 2020 figures from the U.S. Department of Agriculture (USDA), and those of PanXchange. This decrease in production was seen across the board, as cultivators and processors alike witness a slowdown in sales.
Estimates from PanXchange forecast the 2022 flower harvest at 6,400-6,800 acres, anticipating fiber harvest will range from just 8,200-9,100 acres, and grain production will be 4,800 to 5,000 acres this year. That would mean roughly a 46% drop in harvested acres in 2022 based on comparative figures in the first-ever hemp crop report from the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) carried out for the 2021 harvest season.
“Poor conditions and contract prices have resulted in poor follow-through,” Seth Boone, Vice President for Business Development at PanXchange comented about this year’s expected flower production for CBD and other cannabinoids.
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