Hemp production over the last two growing seasons does not reflect the actual supply and demand picture for cannabinoid hemp.  For hempseed, production is tempered by the forward contracts that are typical in that segment.  Cannabinoid hemp prices have not declined significantly over the last year, but volume has. 

The exceptions in transaction volume are CBD isolate for Delta 8 THC (∆8) conversion, and hemp flower.  The hemp flower market though is partly driven by flower of various quality sprayed with ∆8.  Many stakeholders question the safety of this flower; there is limited to no safety testing for some of this product going into the marketplace.  We have discovered the vast majority of ∆8 vape cartridges we encounter don’t have the accompanying safety data that is typical for MJ products in regulated markets.  

Black market hemp flower is not as prevalent as black-market MJ, but the risk for growers is low and improved…