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At the end of 2020, hemp prices stabilized which has led to the decrease of unforeseeable and unpredictable circumstances from the entire market. According to the Hemp Benchmark’s editorial editor, Adam Koh, 12-18 months of hemp biomass prices have steadily diminished. The CBD market has continued to stabilize during the months of October, November and December 2020.
The market stability is necessary for hemp farmers so they are able to perfect their production strategies, keep costs low with equipment purchases, predict revenue and grow efficiency. Growers are headed towards automation technology in harvesting and post-harvesting.
Although the market has become balanced, numerous factors play into the future of the CBD market such as the coronavirus pandemic and the Food and Drug Administration. These factors present challenges for the majority of growers. The legality of CBD has a large influence on all aspects of operations. Despite these obstacles, companies are starting to make investments in large scale fiber processing facilities across the country. The hemp market is still relatively new and has immense room for growth.
Learn more about the latest in CBD at the White Label Expo USA held at the Las Vegas Convention Center on September 1 & 2, 20201. Register for free tickets today!