Not a marijuana post - this is about industrial hemp. I wish Ohio would've acted sooner to allow for a crop this year, but it looks like Ohio farmers will be in the hemp business in 2020...
This is a big deal! Farmers in Ohio typically make (considerably) less than $1000 per acre farming traditional crops like soybeans, wheat, and corn. I know farmers here in Colorado who make over $20,000 per acre farming industrial hemp. Now, those margins will not hold long-term as more states come onboard and the number of farmed acres increases (acres farmed with hemp in the US this year is 2-3x what it was last year), but hemp will be much more lucrative than these traditional crops for years to come. We're just seeing the beginning of the market demand for hemp derived cannabinoids like CBD.
Congratulations, Ohio! If anyone on here is contemplating getting into the industrial hemp business - whether it be farming/processing/manufacturing/product development, feel free to reach out via PM if you want to discuss this space. I've talked with a couple members about different opportunities they were pitched, and I'd be happy to talk with others a little more about the huge opportunities in hemp.
Edited for clarity: I enjoy talking about the industry - I'm not pitching a specific opportunity...
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