Promised as a 'cash crop,' hemp has plummeted in price. SC farmers are leaving it behind
"The number of permitted hemp farmers has been in steep decline since 2020 and many of the permitted farmers don't grow the crop anymore, said Nate Futral, who works with PHP Processing in Greenville.
Growing the plant is complicated. Regulations require that a hemp crop must contain less than 0.3 percent THC by dry weight, which requires methods new to farmers, Futral said.
When crops didn't meet the regulatory requirements and had to be destroyed, many growers got out of hemp farming. For those who keep growing, the payoff can be meager. Callarman said he used to get anywhere from $15 to $20 a pound for biomass, used to produce CBD oil. Now that same amount is worth less than a dollar. "
The article doesn't really explain the huge drop in price of the raw material used to produce CBD oil, which just going by this forum is a very popular supplement. My guess it's not just because a lot of people are growing it, but because it's being imported from elsewhere for much cheaper than people need to it be to make a living growing it here.
"The number of permitted hemp farmers has been in steep decline since 2020 and many of the permitted farmers don't grow the crop anymore, said Nate Futral, who works with PHP Processing in Greenville.
Growing the plant is complicated. Regulations require that a hemp crop must contain less than 0.3 percent THC by dry weight, which requires methods new to farmers, Futral said.
When crops didn't meet the regulatory requirements and had to be destroyed, many growers got out of hemp farming. For those who keep growing, the payoff can be meager. Callarman said he used to get anywhere from $15 to $20 a pound for biomass, used to produce CBD oil. Now that same amount is worth less than a dollar. "
The article doesn't really explain the huge drop in price of the raw material used to produce CBD oil, which just going by this forum is a very popular supplement. My guess it's not just because a lot of people are growing it, but because it's being imported from elsewhere for much cheaper than people need to it be to make a living growing it here.
