Canola growers turn to more profitable hemp

Our neighbors to the north know how valuable hemp is. In fact, Canadian canola farmers are increasingly turning to the highly profitable, resource-saving plant. 

Permitted for commercial agriculture since 1998, Canada has become one of the world’s most highly regarded hemp producers and is home to several of the most well-known hemp food brands. From The Globe and Mail

“We kind of price ourselves being very sensitive to what the selling price is on canola, because often we’re displacing canola acres when we are growing hemp,” Mr. Crew said. “It has to be a better deal for the farmers.”

Hemp fields produce about half as much grain as canola fields, experts say. But what it lacks in yield, it makes up in price. Farmers can net between $620 and $1,240 per hectare of hemp, compared with $495 a hectare growing canola, Mr. Crew said.
[…]Farmers are expected to seed 40,470 hectares of hemp by 2015 and 101,170 hectares by 2018.  

Read the full article on hemp farming in Canada at The Globe and Mail.

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