The Business of Growing Hemp
As has been noted in a number of other Dirt Doctor Library pages to do with Hemp, the definition of Industrial Hemp is “plant of the genus Cannabis and any part of the plant, whether growing or not, containing a delta-9 tetrahydrocannabinol (THC) concentration of no more than three-tenths of one percent (0.3%) on a dry weight basis.” One acre of hemp can yield an average of 700 pounds of grain, which in turn can be pressed into about 22 gallons of oil and 530 pounds of meal. The same acre will also produce an average of 5,300 pounds of straw, which can be transformed into approximately 1,300 pounds of fiber. The following information offers information about the economics of growing hemp.
Hemp Production Budget Models, University of Kentucky
Dr. Tyler Mark, University of Kentucky Ag. Economist, and Jonathan Shepherd, Ag. Economics Farm Management Specialist, have released new, interactive enterprise budget models for industrial hemp producers. This is a useful tool for those newly considering or perhaps working to optimize hemp production efforts. The tabs at the bottom of the sheet denote different production models, and the data can be manipulated to evaluate different scenarios. Click this link to download the budget files.
An Introduction to Hemp and Hemp Agronomy
University of Kentucky College of Agriculture, Food, and Environment, Coop. Ext. Service
David Williams, professor of Plant and Soil Sciences, and Rich Mundell, Kentucky Tobacco Research and Development Center, are participants in the Kentucky Department of Agriculture’s Industrial Hemp Program. Their work is focused on investigating the agronomic parameters affecting field-scale production of industrial hemp. The resulting research and extension efforts are aimed at optimizing yields and profitability from grain, fiber, and cannabinoid production models for U.S. producers. Click here for the 2018 An Introduction to Hemp and Hemp Agronomy.
EarthX Interview with Lucas Evans, E3 Agriculture
For more information about the modern marketplace and business of growing hemp in areas that were once used for cotton and other crops, listen to a 2026 interview during the EarthX convention. Lucas Evans, of E3 Agriculture, a Texas business producing hemp fiber, oil, and other by-products, and working on growing the hemp marketplace.