A top official at the Canadian Hemp Trade Alliance (CHTA) say overproduction in 2017 is contributing to lower hemp prices and less hemp acreage in 2018.
“It doesn’t take much to overproduce a crop when you’ve got 100,000 acres. So it’s a delicate, delicate balance,” Russ Crawford, CHTA president, told Commodity News Service Canada.
Crawford said conventional hemp prices in Canada have dropped about 20 cents so far this year, to around 55 cents per pound. But organic hemp prices remain higher, he added, at around $1.80-$1.85 Canadian per pound.
And some producers say that even while prices have dropped, hemp farmers are still seeing profitability.