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One of the major problems with many who are getting into the hemp farming business for the first time is that they have not put in the proper planning on the front end. You need to begin with the end in mind. This means understanding the hemp market.
When growing hemp for CBD, there are really two markets: the hemp biomass market, and the hemp flower market. They are different markets because they have different buyers. The biomass market is typically sold to processors who will extract the oil out of the biomass and sell to buyers who make retail CBD products.
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Farming industrial hemp for #CBD is a lot of fun and a great way to earn a living! But there are a lot of things that can go wrong. This video is meant to show the story of our profitable hemp farm, and provide some resources so you can also start a profitable hemp farming business yourself.
The hemp flower market is sold to retailers interested in selling smokable flower. You usually can make more money per pound this way, because you are selling the highest quality part of the plant, but you will have less weight in the end.
The hemp market is changing from year to year based on supply and demand. If there is too much supply, then the price of your hemp biomass will go down. Just because your friend said you can make a lot of money farming hemp does not mean you are right for the business. You need to consider if you have the basic resources needed to farm. It will cost about $10,000 per acre. You will need to purchase plastic mulch, seeds, irrigation components, tractor implements, and labor for the harvest.
It is important to farm around the 45th parallel because during the longest days of the summer you want about 18 hours of daylight. When the days begin getting shorter, the plant will begin the flowering stage where it will begin producing the oil, which is where you will make your money.
In addition, you need to consider where you are going to dry your hemp once it has been cut. If you live in a dry climate that does not have much rainfall in the early Autumn months, you could plan on drying your plants in the field. If you don’t live in a dry climate, you will need to hand dry your hemp plants, or machine dry them (which can be very expensive).
Hang drying takes up a lot of space, so you will need some big storage for drying your hemp.
The first step in farming is to test your soil to understand the PH levels. Once your soil is in good shape, you will lay your plastic mulch, and get the field ready for transplanting. Meanwhile, you need to propagate your hemp seeds in a greenhouse. Once they are strong enough to survive on their own in the field, you can transplant them. We use 8′ rows, and space the plants about 48” apart. This gives them plenty of space to grow large, and produce large buds.
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