54K Acres of Industrial Hemp Planted in 2021, Worth $712M

54K Acres of Industrial Hemp Planted in 2021, Worth $712M - | HempRevs

In 2021, 54,200 acres of hemp were planted for industrial purposes in the U.S, valued at $712 million with 33,500 total acres harvested for industrial purposes, according to the U.S. Department of Agriculture’s (USDA) National Hemp Report. Hemp flower production last year was valued at $623 million with farmers cultivating 16,000 acres, with an average yield of 1,235 pounds per acre and a total of 19.7 million pounds grown for flower, the report says.

The production of hemp grown for fiber purposes was estimated by the USDA at 33.2 million pounds over 12,700 acres, with an average yield of 2,620 pounds per acre. The USDA estimates the fiber sector value at $41.4 million.

Production of hemp grown for seed in 2021 was estimated at 1.86 million pounds, with 3,515 acres being used for hemp seed. The USDA reports estimates an average yield of 530 pounds per acre, with a total value of $41.5 million.

The agency report indicates that Colorado led the U.S. in acres of planted hemp with 10,100 but Montana harvested the most hemp – 4,500 acres on 7,900 acres planted, the second-highest hemp acreage total planted in the U.S. in 2021. Hemp acreage planted in Texas and Oklahoma each reached 2,800 acres, with 1,070 acres of hemp harvested in Texas while in Oklahoma just 275 acres were harvested.

The report notes that last year, 27 states operated under federal guidelines provided by the 2018 Farm Bill instead of implementing state rules, while 22 states operated under state regulations allowed under the 2014 Farm Bill. All of the tribes that cultivated hemp last year operated under the 2018 regime. Only Idaho did not have a regulated hemp program last year but state officials began issuing licenses last month.

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Source Disclaimer: This article was was sourced from Ganjapreneur.com (the Original Publisher). In order to maintain the functionality, trust, and safety of HempRevs.com, the content sourced from the Original Publisher may have been altered. Read the original article here:
54K Acres of Industrial Hemp Planted in 2021, Worth $712M

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