This sounds like Oregon overproduction story on a massive scale.
Never mind booked up processing plants, testing issues in some states and now the vape crisis.
Some farmers are going to have a hard time of it according to Hemp Industry Daily.
“The irrational behavior of the hemp market has been fueled by a combination of artificial scarcity and speculation, which stems from regulatory restrictions prior to the 2018 Farm Bill and inexperienced farmers not converting anywhere close to 100% of their permitted acreage into a salable raw ingredient.”
Hemp farmers, consultants and processors told Hemp Industry Daily they are seeing an oversupply of the crop that may not make it out of the fields. That’s because many inexperienced farmers:
- Didn’t make harvest plans.
- Found hemp to be more challenging to produce and harvest than expected.
- Didn’t have a contract to sell their crops.