We Need Hemp-Based Fiber, Food And Building Materials, Not Just CBD, Says Industry ReportPosted by On

Hemp hemp has three major markets, fiber, grain and building materials so why does CBD get all the attention? According to the Hemp Industry 2023 Opportunities Report, published by Let’s Talk Hemp, in several states, legislation related to limiting the cultivation of plants intended for the cannabinoid market has resulted in the limiting cultivation of hemp fiber and grain crops. 

“This has worked against the other markets because the demand for fiber in construction and grain for human and animal consumption grew significantly in 2022,” states the 2023 edition of the report, an annual overview presenting key market research, financial coverage, regulatory outlook, and trends that will affect the hemp industry in the year ahead.

Let’s Talk Hemp Media is the producer of the largest hemp-centric events in the world, NoCo Hemp Expo and the Southern Hemp Expo. Its latest report explains that cultivation restrictions focusing on cannabinoids have “unintended consequences” for fiber and grain, setting the supply behind the demand.

“While CBD has received the majority of the attention in the media, the fiber, and grain market has experienced successes at both the state and federal levels and is poised for a breakout. Unfortunately, the timing of this increase in market demand coincides with the downward trend in both licensed acreage and investor sentiment. The result is a constraint in supply that is limiting growth,” per the report.

Short Supply, Operators…

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