[[“value”:”Aerial view of labyrinth in a hemp field
By Sillerkiil / via Wikimedia Commons
U.S. industrial hemp production rose sharply in 2024, with total crop value reaching $445 million, a 40 percent increase over the previous year, according to the latest National Hemp Report.
Planted acreage expanded to nearly 45,300 acres, up 64 percent from 2023. Harvested acreage climbed 60 percent to just under 32,700 acres. The growth reflects both increased planting and higher yields, which rose from 669 to 1,757 pounds per acre.
Floral hemp led the surge, with production more than doubling to 20.8 million pounds, a 159 percent jump year over year. It accounted for 87 percent of the total value of hemp grown in the open, cementing its position as the industry’s economic driver.
Seed hemp also posted notable gains. Its value rose nearly 500 percent to $16.9 million, the largest percentage increase among hemp categories.
The report signals renewed momentum in the hemp sector, following several years of market fluctuation after legalization under the 2018 Farm Bill.
U.S. Hemp Acreage Surges, Production Value Hits $445 Million
“]] U.S. industrial hemp production rose sharply in 2024, with total crop value reaching $445 million, a 40 percent increase over the previous .. Read More
