Canada hemp farmers blame overproduction for drooping prices

Hemp farmers in Canada say overproduction is depressing prices for seeds.

The Canadian Hemp Trade Alliance told the Commodity News Service that Canadian seed prices have fallen from about 75 Canadian cents (58 cents) a pound last year to 55 Canadian cents a pound this year.

Canada remains the world’s biggest hempseed producer, devoting about 138,000 acres to hemp last year, most of it for oilseed products.

That total is second only to China, where hemp is mostly grown for fiber, and about 10 times the hemp acreage grown in the United States last year.

But hemp remains a niche crop in Canada. By comparison, Canada last year devoted nearly 23 million acres to canola.

“It’s a delicate, delicate balance,” said Russ Crawford, president of the CHTA and a director of British Columbia hemp processor Naturally Splendid Enterprises.

Organic hemp prices haven’t dropped, Crawford said, with those seeds going for about 1.80 Canadian dollars ($1.39) a pound.

More farmers are expected to join the hemp industry this year in Canada, where new marijuana regulations taking effect this summer could also expand the hemp market.

Canadian hemp currently can be used only for seed and fiber without a special license from the national health agency for CBD extraction from leaves and flower.

Canada’s new regulations will allow for the sale of flower and leaves to licensed processors in the marijuana market.

Canadian hempseed growers are hoping prices rebound with a new market opening in Australia, which recently legalized hempseed consumption but doesn’t yet have an established network of producers.

But Canada is fighting headwinds of increased hempseed production just to the south.

“Our exports to the U.S. are down quite a bit this year as well, and so we’re in a competitive state,” Crawford said.

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2 comments on “Canada hemp farmers blame overproduction for drooping prices
  1. Anon on

    So are they looking for agricultural price supports? Like tariffs, they help the few at the expense of the public. “People of the same trade seldom meet together…but the conversation ends in a conspiracy against the public.” -Wealth of Nations, Adam Smith

    Reply
  2. dean micic on

    Well if this is the case Canada should be embracing building with hempcrete , the most superb houses with no mould build up it has a microscopic pause like that of goretex , that breathes and absorbs and releases humidity, it has incredible solid mass and has amazing ,thermal and acoustic qualities and can be built with masses of less polluting petrochemical products , a healthy home , where less energy is used in heating and cooling , the world needs this , it will significantly cut carbon emissions as well as sequestering it ,( within each building made from hempcrete) , and also Hempcrete it is incredibly fire resistant , get on board Canada , Hempcrete is an important step , to cut greenhouse gases !!!

    Reply

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