The Kentucky Task Force estimated total costs— which include variable costs, fixed costs, and operator labor—to be $286 per acre for hemp fiber, $196 for seed, and $233 for certified seed (table 7). Because of all of this, many American farmers turning to the third — and most lucrative — hemp crop: CBD oil. Uses for industrial hemp are immense, including using the fiber to create fabrics, handbags, denim, diapers, socks, shoes and more. “Fairfield County has a high unemployment rate,” said Wilkes, who is retired after having worked in the construction and nuclear industries. One way to break down the numbers would be to realize that if you’re doing everything right and following methods to have the highest yield of CBD, you crop will produce about 10 percent CBD, which will equate to about $25 to $35 per pound. Fixed costs ($1,280 per acre): Machinery $800; Irrigation System $4,500; … IS HEMP GROWING PROFITABLE IN 2020? It also depends on whether you’re growing plants from feminized seed, regular seed… Like hemp grown for fiber, the production costs for seed is about $300 to $350 per acre. Additionally, the Chinese dominate the hemp fiber market, making it very difficult to break in. The fiber plants tend to grow to 6-12 feet tall without branching, while grain plants tap out at about 9 feet tall and do branch. Once you have this number, you take the amount of CBD per flower and multiply it by the number of plants 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. “The good news is, we can grow industrial hemp in South Carolina,” DeWitt said. “We’re waiting to see what growers get paid,” Smith said. The corresponding costs for hemp seed grown on irrigated land was estimated at $574 per acre or $0.34 per pound (Table 2). There are three primary industrial hemp crops: oil, seed, and fiber. The shorter plants are actually preferred for harvesting reasons and don’t — thankfully — produce less grain than taller crops. Bulkanna hemp seeds range in cost from $20.00-$1,500 dollars a pound for standard non-feminized industrial hemp seeds and from $0.25 to $0.90 cents per seed (depending upon quantity purchased.) On the flip side, industrial hemp is “grown for mass-market products such as textiles and bioplastics,” and this traditional hemp, “has a planting rate of 400,000 per acre (roughly 100 … Your hemp farming profit per acre is mostly going to depend on what type of hemp crop you’re planning on harvesting. Because of this, the agronomic method is cheaper and carries less risk than the horticultural method. Because hemp is a relatively new crop, there are still several steps to take before there are labeled fungicides, herbicides and pesticides such as those afforded traditional crops. 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Feminized hemp seeds have a higher cost than regular hemp seeds due to the intensive process involved in genetic breeding. “Our yields were where they needed to be in 2018 and we’re getting ready for 2019.”. PROFITABILITY. However, out of the three crops, it is the most labor intensive and difficult to farm, as it is essential to understand the effects of stress and growing variables to produce the highest ratio of CBD to THC. Of this, approximately 75 per cent were variable … A cost of $400-$500 per acre, with seed costs of $50-$120 per acre, was the most … However, no matter what crop you decided to plant, you’ll want to make sure you are using the best possible seed or hemp clones. The growers also invested in irrigation, greenhouses and drying facilities. In spite of reports showing that industrial hemp production may very well bring between $40,000 to $50,000 per acre — in contrast, corn brings right around $1,000 per acre — hemp farmers in … Industrial hemp production could be a viable crop alternative for South Carolina farmers, according to Clemson Cooperative Extension crop and agribusiness agents. However, unfortunately, it also has lower yields of CBD per acre than the horticultural method. First, Oakes cautions, make sure you’re opting for certified seed. Similarly, hemp fiber sells for approximately $260 per … In many ways the huge variances in seed pricing highlight how much hemp is still in its wild west growth phase. Other factors to consider when calculating seeding rates are 1000 kernel weight … The going market for hemp fiber is about $260 per ton, with the average yield being between 2.5 and 3 tons of hemp fiber per acre. I plan on growing hemp – it’s a new crop and I believe it will do well.”. The Alberta Agriculture and Forestry Department reported an average total production cost for hemp seed grown on dryland in 2015 at $409 per acre. So if someone cultivated 2,500 plants per acre, the equation would look like this:.3 lbs of CBD per flower x 2,500 plants per acre = 750 pounds of CBD per acre of hemp Consider a seed stock at $10 per pound at a 55 pound per acre seeding rate would be $550 in seed costs for one acre … This translates into 40 to 50 pounds per acre and 18 to 23 pounds per acre, respectively. Clemson officials teamed with industrial hemp industry associates for a session at the 2019 S.C. AgriBiz and Farm Expo in Florence about the state’s hemp crop. The two hemp cultivation methods for CBD are agronomic and horticultural. However, the average yield from an acre of well planted and maintained hemp is about 1,000 pounds. Fallon boasts 15 years of experience in growing and breeding cannabis and hemp, and managing grows. Hemp seeds can be used in foods such as granola and bird seeds. Male Weeds May Hold Key to Their Own Demise After taking into account costs, which can range from $300 to $350, farmers can make around $250 to $300 per acre. Profits are dependent on CBD content, the techniques and processes used, and the expenses involved. The going price for hemp grain ranges from $0.60 to $0.65 per pound, which might not sound like a lot. Feminized Hemp Seed … Fiber is the other primary hemp crop that is particularly easy to work into your crop cycles and take full advantage of with the industrial farming equipment you already have. We craft high-yield fast growing feminized hemp seeds, tailored to specific growing conditions for superior CBD extraction. With costs of production ranging from $300 to $350, it’s possible for you to make somewhere between $250 and $300 per acre. I also would like to use this an opportunity to teach young people about farming and maybe instill a desire in them to enter farming as a profession.”, Industrial hemp. The range of price of this seed was $10.00 to $35.00 per pound. per acre. Seeding rate for a hemp fiber crop is between 35 and 60 lbs per acre. 060 to price than CBD oil. Forget Soy. This leads to you making about $60,000 per acre before subtracting the higher costs of optimizing your CBD yield. Of this, approximately 71 per cent were variable costs and the remaining 29 per … “I just closed on 130 acres in November,” Wyse said. In the horticultural method, you’re basically cultivating hemp in a similar way to cannabis. Total production costs for hemp seed grown on dryland was estimated at $409 per acre or $0.38 per pound of hemp seed produced (Table 7). Be in 2018 and we ’ re basically cultivating hemp in a similar way to.. The horticultural method, you take the amount of CBD per acre than the horticultural,... 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