The number of hemp farms has been on the rise since 2004, with thousands of hectares of hemp being cultivated each year. The Netherlands has become a major player in the European hemp industry, with indoor spaces authorized for hemp production reaching over 168 million square feet.
HEMPis the first thing that comes to mind when thinking of Signature, and for good reason. A survey revealed that 82% of hemp producers are male, and 52% reported that agriculture is their primary occupation.
France is well-known for its production of hemp concrete (hemp-lime compounds) for the construction industry. This country produces the most commercial hemp annually and is still the world's largest exporter of hemp paper, textiles, and biocomposites. Recent market analysis suggests that the country's supply of hemp has exceeded demand, resulting in a decrease in product prices. Poland is one of the largest agricultural countries in Europe and has great potential to become a major European hemp producer.
The gradual relaxation of laws governing the cultivation, processing, and production of hemp products is contributing to the growth of the industry. Although there are still restrictions on its use in some countries, global hemp production has increased significantly in recent decades. Cyrus now has hundreds of thousands of pounds of hemp stored in her barn that she can't sell at a fair price. HEMP can be transformed into a variety of products, from ropes to floorboards, granola, and dog treats.
The growth in indoor or greenhouse spaces authorized for hemp production indicates that the CBD market is leaning towards flowers, as farmers looking for this product tend to grow their plants indoors, according to Ian Laird, Chief Financial Officer and General Counsel at Hemp Benchmarks. Cyrus said that he knows anecdotally of at least a million pounds of hemp plants and thousands of kilos of hemp oil stored in his area. Unfortunately, many farmers have lost money due to crop failure and an increase in the supply of hemp leading to lower prices.