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Opportunities for Commercial Hemp Production

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  • T. Randall Fortenbery
  • Michael Bennett

Abstract

Hemp production has been nonexistent in the United States since the 1950s. However, low prices for traditional crops have peeked interest in commercial hemp production. The current literature on hemp suggests that it may compete on the margin with traditional crops, but is not likely to generate sizeable profits. Hemp appears slightly more profitable than traditional row crops, but less profitable than other specialty crops. An important constraint to a viable commercial hemp industry is the current state of harvesting and processing technologies, which are quite labor intensive, and result in relatively high per unit costs.

Suggested Citation

  • T. Randall Fortenbery & Michael Bennett, 2004. "Opportunities for Commercial Hemp Production," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(1), pages 97-117.
    • Handle: RePEc:oup:revage:v:26:y:2004:i:1:p:97-117.
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    File URL: http://hdl.handle.net/10.1111/j.1467-9353.2003.00164.x
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    References listed on IDEAS

    as
    1. Usda, 2000. "Industrial Hemp in the United States: Status and Market Potential," Staff Reports 278840, United States Department of Agriculture, Economic Research Service.
    2. Kraenzel, David G. & Petry, Timothy A. & Nelson, Bill & Anderson, Marshall J. & Mathern, Dustin & Todd, Robert, 1998. "Industrial Hemp As An Alternative Crop In North Dakota," Agricultural Economics Reports 23264, North Dakota State University, Department of Agribusiness and Applied Economics.
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    Cited by:

    1. GwanSeon Kim & Tyler Mark, 2023. "What factors make consumers in the USA buy hemp products? Evidence from Nielsen consumer panel data," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 11(1), pages 1-19, December.
    2. Trey Malone & Kevin Gomez, 2019. "Hemp in the United States: A Case Study of Regulatory Path Dependence," Applied Economic Perspectives and Policy, John Wiley & Sons, vol. 41(2), pages 199-214, June.
    3. Abhinav Tiwari & Fuji Jian, 2023. "Desorption and Sorption Isotherms of Different Varieties of Hemp Seeds with Different Percentages of Dockage under Different Temperatures and Different Relative Humidities," Agriculture, MDPI, vol. 13(10), pages 1-16, October.
    4. Joohun Han & John N. Ng’ombe, 2023. "The relation between wheat, soybean, and hemp acreage: a Bayesian time series analysis," Agricultural and Food Economics, Springer;Italian Society of Agricultural Economics (SIDEA), vol. 11(1), pages 1-12, December.
    5. Ingrao, Carlo & Lo Giudice, Agata & Bacenetti, Jacopo & Tricase, Caterina & Dotelli, Giovanni & Fiala, Marco & Siracusa, Valentina & Mbohwa, Charles, 2015. "Energy and environmental assessment of industrial hemp for building applications: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 51(C), pages 29-42.
    6. Jane Kolodinsky & Hannah Lacasse & Katherine Gallagher, 2020. "Making Hemp Choices: Evidence from Vermont," Sustainability, MDPI, vol. 12(15), pages 1-15, August.
    7. Parvez, Ashak Mahmud & Lewis, Jonathan David & Afzal, Muhammad T., 2021. "Potential of industrial hemp (Cannabis sativa L.) for bioenergy production in Canada: Status, challenges and outlook," Renewable and Sustainable Energy Reviews, Elsevier, vol. 141(C).
    8. Kim, GwanSeon & Mark, Tyler, 2018. "Who are Consuming Hemp Products in the U.S.? Evidence from Nielsen Homescan Data," 2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida 266671, Southern Agricultural Economics Association.
    9. Rosa Agliata & Alfonso Marino & Luigi Mollo & Paolo Pariso, 2020. "Historic Building Energy Audit and Retrofit Simulation with Hemp-Lime Plaster—A Case Study," Sustainability, MDPI, vol. 12(11), pages 1-16, June.

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    1. Kim, GwanSeon & Mark, Tyler, 2018. "Who are Consuming Hemp Products in the U.S.? Evidence from Nielsen Homescan Data," 2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida 266671, Southern Agricultural Economics Association.
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