Hemp acreage peaked in 2019, when over 500,000 acres were licensed.  Less than half of the licensed acreage was planted, and estimates vary on actual planted and harvested acreage.  The chart below illustrates the macro trend for licensed acreage, planted acreage, and the number of licenses issued overall. 

This year will mark the first year that producers operate under USDA hemp production rules, or ones that were vetted and approved by USDA.  The trend in the chart below shows a less precipitous drop for licenses issued, partly due to new states coming online with modest production spread over many producers.  The days of planting double- or triple-digit acreage and figuring it out as you go, are over.  For the masses, at least.  

Experimentation is still an essential part of the crop’s development, and 2022 will be another year of widespread trials in all three segments.  Seed breeding is ongoing.  Hemp produces…