Andrew Hill, who studied and farmed hemp in California before it was legal in Texas, was a keynote speaker at the state's first-ever agricultural hemp expo in Dallas in 2019. Amid considerable hype and excitement that followed the recent federal legalization of hemp, Hill tried to warn farmers that the industry wasn't as profitable as state officials and seed vendors were pitching.
"There were guys running around telling farmers they could make $2,500 to $3,000 an acre on hemp. Being an actual farmer, not trying to sell seeds or clones, I couldn't help but burst out laughing," Hill said. "Everyone looked at me and asked what was so funny, and they gave me the mic and I said, 'Ladies and gentlemen, I'll tell you right now—I haven't seen over $1,000 an acre since 2015.'"
Still, Texas lawmakers embraced the opportunity hemp presented in 2019, legalizing hemp products of the cannabis plant with less than 0.3 percent THC, the psychoactive component in marijuana. Hill's Texas Star Hemp Farms was among those to make the investment necessary to profit from hemp, including owning almost all the means of production and sales and spending millions on seeds, licenses and facilities.
Six years after that initial rush, industrial hemp farming in Texas stands on the brink. Senate Bill 3, which would ban any consumable hemp products that contain even trace amounts of THC, could destroy what farmers like Hill have built.
Read more at Marijuana Moment