We all see the phrases; “in today’s economy”, “our new normal”, etc. But what does that mean? Many news outlets are talking about its effect on small businesses across the country, and the changing habits of buyers, employees, and employers. Many industries are affected in one way or another. But how has the “post-Covid” economy effected farming?
I feel there is a great opportunity for farmers to cash in on the most profitable crop in America today; hemp. Of course, it is not the end-all be-all as diversification is important, but having a high-yield crop is nothing to scoff at. The CBD industry is growing and expanding across the US. Many markets are completely opening to more CBD products, which is where the dominate force exists in the hemp space today. Having a high-quality harvested crop that can be converted into very profitable CBD products is where most hemp farmers are focusing.
Areas where hemp farming has been going on for a while now, such as Elevated Engravings based out of Vail, Colorado. They have made custom wood designs for local farmers in the hemp space to promote their crops to potential buyers. It all falls in-line with the organic and natural lifestyle and community that exists in the Pacific Northwest. Connecting with the right partners that can help you is key to being profitable.
Connecting the Dots
What we see is the farmers’ ability to get quality information about growing hemp. The internet is both a blessing and a curse because it is difficult to navigate through the webs of information to find what is real and what is just advertising. Finding a reputable source for CBD hemp seeds is cumbersome. Just a search for “CBD hemp seeds” will yield thousands of results from every company under the sun. Davis Hemp Farms out of Bend, OR is a fantastic resource, so I would start there first.
Its important to dwindle down the list to a few potential suppliers, then do your research about those companies through social media as well as on the search engines. Locate a seed supplier that puts its customers first and has your best interests in mind. Taking the time to answer your phone call and discuss your business with you goes a long way in today’s digital-dominated world. Lets not forget the importance of human to human interaction and the trust factor.
Once you find the right seed supplier, grow your crop, next is connecting to a CBD buyer. You will need a buyer lined up to streamline the process to ensure your harvest was a success. There are many brokers out there and companies that will help connect you with buyers in your market. I’d recommend reaching out to a company like KifCure if you’re in the Midwest region, and they will be able to help you connect the dots.
The Cash from the Crop
The learning curve to grow hemp can be difficult, but if you partner with the right companies, you can alleviate some of the pain and let them educate you. From the proper equipment to the right seeds, you’ll have to get educated to make hemp farming work for your pocketbook. The cash is there, and is much more profitable than other traditional crops like soybeans and corn, based on a per acre rate. CBD is an incredibly diverse market and still in its infancy, with many of the distribution channels still being built out. While there are other opportunities for hemp products as a whole, CBD seems to dominate the space with the most demand and profitability.