The Current State Of Hemp

The hemp industry is familiar with boom-and-bust cycles, with a surge in production acres in 2019 followed by a decline in the following years. According to Hemp Benchmarks, planted acres decreased by 42% from 2021 to 2022 in the United States. The report also showed a shift in the industry with an increase in fiber production acres from 2021 to 2022 (Hemp Benchmarks, 2022).

According to the NASS report, Indiana hemp producers planted 255 acres in 2021 (Cornell University, 2022). Indiana hemp producers planted 646 acres in 2022 (OISC, personal communication). Most of the planted acres in 2022 were for grain and fiber hemp. There are 710 acres of hemp expected to be planted this season in Indiana. Over half of the planned acres are for grain and fiber hemp.

The difficulty farmers face when growing this crop is not going unnoticed. Senator Braun (R-IN) and Senator Tester (D-MT) introduced a bipartisan hemp bill to provide exemptions for certain requirements specific to the hemp industry. The bill aims to reduce challenges faced by farmers that grow grain and fiber hemp. In this bill, grain and fiber hemp would be defined as “industrial hemp”, separate from hemp grown for cannabinoids. Another change—visual inspections for grain and fiber hemp rather than chemical testing for THC. Industrial Hemp Act of 2023 (S.980) can be viewed here.

References

How much hemp has been planted in 2022? Hemp Benchmarks. (2022, September 7). Retrieved April 6, 2023, from https://www.hempbenchmarks.com/hemp-market-insider/how-much-hemp-has-been-planted-in-2022/

National hemp report. Cornell University. (2022, February 17). Retrieved April 6, 2023, from https://downloads.usda.library.cornell.edu/usda-esmis/files/gf06h2430/xd07hw825/v692v917t/hempan22.pdf

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