Some American farmers suffering under the weight of the U.S.-China trade war are trying to mitigate losses by turning to the latest craze in cash crops: hemp.
That’s according to John Boyd Jr., a soybean grower in Virginia who’s also founder of the National Black Farmers Association. Boyd has planted about 100 acres (40 hectares) of hemp this year to deal with the fallout of the trade dispute that saw China cut its buying of American agriculture imports by more than half in 2018. Purchases have continued to drop in 2019.
“We’re trying our hand at hemp for the first time,” Boyd said in an interview on Bloomberg Television with Alix Steel. “I’m taking a big risk there, and I know some other farmers are doing that as well.”
Read more at bnnbloomberg.ca
