Hempseed markets will continue to face headwinds as imports and high commodity prices steer producers to other crops, furthering a trend of declining acreage. An aggregate 4320 metric tons (mt) of hempseed cleared U.S. Customs from various ports in 2022, depicted below, in Kg.
Canada remains by far the most important hempseed exporter to the US sending 3500 mt south in 2022. US producers will struggle to displace established Canadian hempseed tradeflows without significant policy development.
European competition is also on the horizon with Lithuania sending nearly 550 mt to the US in 2022.
Despite our previous commentary about North American and European hemp market…
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