2020 was a tough year for hemp farmers in the Midwest, and across the country. Unfortunately, 2021 may not be much better.
Most of the market for hemp is currently in cannabidiol (CBD) that is made into supplements that claim to have medicinal properties that can help anxiety, cognition, movement disorders and pain.
But the supply of hemp far outpaced demand. Prices fell, and hemp farmers didn’t do well. But Dale Ludwig of the Missouri based Midwest Hemp Association said that isn’t all bad for the industry.
“A lot of people who weren’t very serious about it aren’t going to stay in the industry. And that gets the legitimate producers a better opportunity to profit,” Ludwig said.
Ludwig predicted that it will still be years before the hemp market is developed and stable, but that it will become a viable crop in the Midwest.
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