A “vast majority” of American hemp farmers and processors will focus on CBD in 2020 according to a report by Hemp Benchmarks, which monitors the sector.
That’s despite a current glut in supply that has many companies sitting on massive amounts of biomass and CBD oil.
“Reports from regulators and producers tell of large volumes of biomass still sitting unsold, which may dissuade some from growing again this year,” Hemp Benchmarks said in narrative analyzing a recent survey among stakeholders.
Leading states dip
But while the number of applications to grow hemp is down from 2019 in several leading hemp states, with sources in Colorado, Montana and Oregon citing declines, growers in new hemp states are showing enthusiasm over hemp, according to the report.
Read full article here: https://hemptoday.net/cbd-usa-2020/