Myth #9: “If I grow it someone will buy it.”

This is not “Field of Dreams”. 

Up through 2018 many farmers were able to grow almost any material they wanted and still find buyers – even after harvest. 

From 2018 to 2019, the number of acres of hemp grown in the U.S. quadrupled. Supply and demand kicked in, and an oversupply of CBD harvested material pushed prices down. Some regions of Colorado saw prices drop as much as 60% between the 2018 and 2019 growing seasons. 

As the market continues to be oversupplied, many processors are working only with specific growers, or establishing contractual relationships prior to the growing season.  

Although there are material auctions, and some buyers may purchase biomass post growing season, it is likely that the highest prices are paid when a buyer has influence over the breeds and growing of the crop. At harvest, the processor will likely need the material in a specific format. 

This takes some forethought. You should implement plans to be ready to meet the buyer’s requirements before harvesting begins. Finding a buyer for the product before planting will reduce risks of unsold material and product loss at the end of the season.