No new crop hemp contracts

[hobbyfrmr]

Western Producer article, it reads like Manitoba Harvest is not offering any conventional new crop hemp contracts. There has been some excellent yields in the past couple of years and a substantial inventory in western Canada.
I think they were good enough to warn producers not to grow hemp this year.
There is mention about three buyers in Canada, but.....Manitoba Harvest and Hemp Oil Canada, both facilities near Winnipeg, have recently merged, so the reality is there are only 2 "big buyers".

[bucket]

Thought hemp was growing in popularity for health food and cereals etc.

Has it hit a wall for demand?

[ajl]

Hemp yields have been better than expected and it is a small niche commodity. What was surprising was the volume contracted last year and the high price as people has seen this coming with 2013 and 2014 carryover. Another factor is hemp is now produced in the US where before hemp was not allowed to be produced in the US. Once the price settles to more realistic levels which would be around 0.35 per pound hemp will be a steady although niche crop. There will be some pain working the 0.75 contracted hemp through the system.

[furrowtickler]

Not worth growing at .35

[farmaholic]

Over producing small niche crops is so easy,,,, mustard, hemp, coriander, caraway, buckwheat... add to the list.

[hobbyfrmr]

I am still going to flog the organic hemp but I will not plant without a contract.