Industrial hemp is gaining interest as farmers explore the potential for increased profits from growing hemp varieties used for fiber, seed and cannabidiol, or CBD, oil.
“This crop will have its growing pains through the first couple of years due to so many unknowns, particularly labor costs, market risks and production variables,” said LSU AgCenter economist Michael Deliberto.
Deliberto was among several AgCenter experts who spoke on hemp production at the Louisiana Forage and Grassland Council annual conference Dec. 6 at the AgCenter DeWitt Livestock Facility near Alexandria.
Acreage expansion in the U.S. is currently driven by the interest and potential profit of CBD oil; however, CBD prices have come down in recent months because of increased supply and lack of processing facilities, Deliberto said.
“This highlights one of the many risks associated with hemp production,” he said.
Read the full article at lsuagcenter.com