Land Prices Just One Factor Influencing Hemp Industry Development

Land Prices Just One Factor Influencing Hemp Industry Development

Land prices have increased considerably since the passage of the 2018 Farm Bill.  Commodity prices remained stable – and low – those first years of production in 2019/2020 (and for several years preceding).  Land prices in the US did not increase appreciably between the 2019 and 2020 seasons but increased by ~7% nationally in 2021, according to

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Areas of small-scale cannabinoid hemp production may not see lease price increases unless growers occupy tillable land suitable for cropping.  All cropland is more precious in a world of inflated ag commodity pricing, but some acres more than others.  Overall cash rent prices increased negligibly compared to land prices, according to

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.  This won’t likely be the same for 2022. 

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