2022 USA Hemp Farming Predictions

The discouraging numbers follow a disturbing trend that started in 2019, when U.S. farmers planted about 500,000 acres but harvested only 120,000 as a worldwide crash in the CBD market took hold. 

Since that time, prices for CBD biomass have plunged from historical highs by as much as 90%, sparking a stampede out of the sector that has dragged down industrial hemp overall.

a 46% decrease from 2021 harvested acres based on the hemp crop report from the USDA's National Agricultural Statistics Service. The 2022 hemp fiber harvest is projected to range from 8,200 acres to 9,100 acres, down 30% from the 2021 harvest. https://t.co/76u9D0eQGz

— systembuster (@stlsystembuster) October 11, 2022

FARMING, NEWS, NORTH AMERICA, USA

Flight from hemp continues in U.S., with harvest expected to fall by nearly half

PanXchange projects

•  the 2022 flower harvest at 6,400-6,800 acres, 
• expects the fiber harvest will range from just 8,200-9,100 acres, and 
• estimates grain will be brought in from as few as 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.

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