U.S. hempseed imports declined from 2022 to 2023 by 12.6%. More precipitous declines from 2023 to 2024 depicted in the chart below do not reflect second half figures; data for 2024 is complete through June.

Declines in imports have been at least partially offset by an increase in domestic hempseed production. The National Hemp Report noted a reduction in hempseed acreage in 2023 but a considerable jump in yields – reportedly by 72.3%.

This massive increase in reported yields is more likely a data issue rather than being reflective of yield increases. The industry has rapidly grown, and information is becoming…