The use of hemp for industrial purposes—such as grain and fiber—has been the next big thing since the passing of a farm bill legalizing production in 2018.
Since then, a parallel market has sprouted up alongside the cannabinoid industry.
Unfettered optimism was high at the beginning, which triggered a moonshot planting in 2019.
Four years later, seasoned farmers and venture capitalists alike are struggling with a saturated market and oversold expectations on both ends of the industry.
Historically, advocates have marketed hemp as a sort of miracle crop with gusto. The movement gained serious traction as an investment within the United States once Cannabidiol (CBD) garnered a reputation for having medicinal benefits, which began in California in 1996….