Canada remains the dominant player in North American hemp markets after years of establishing them post-hemp legalization in 1998. This has positioned Canadian hemp operators well as markets develop.
Canadian exports peaked in 2016 with large volumes of hempseed shipped to Korea, which quickly pivoted to lower cost Chinese hempseed.
Canadian operators have since shifted their model to include more shelled hempseed, or hemp hearts, in their product offering. Raw hemp hearts have expanded on store shelves in key US markets, and ready-to-eat food manufacturers have also incorporated hempseed into their recipes, helping to drive demand.
In the chart below, hempseed export volume has declined, but profitability has improved on new product offerings and a maturing supply chain. That supply chain requires handling expertise from farm to processor.
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