A recent report by the United States Department of Agriculture’s National Agriculture Statistics Service (NASS) shows that the economic landscape for hemp production has witnessed substantial growth. The economic worth of outdoor-grown floral hemp attained $241 million in 2023, climbing dramatically by 35% from 2022. This indicates the expanding market potential for hemp fiber, which enhances the overall health of the American hemp industry.Trends in Indoor-Grown Hemp: Clones and TransplantsThe indoor-grown section of the industry saw fluctuations in the quantity and monetary value of hemp clones and transplants. The yield was roughly 3.11 million pounds – a rise of 28% from the prior year. These statistics indicate the growing recognition, acceptance, and rising demand for floral hemp products.A Tale of Grain and Fiber: Remarkable Outputs NotedThe freely grown hemp dedicated to grain production had its share of achievements in 2023.
A recent report by the United States Department of Agriculture’s National Agriculture Statistics Service (NASS) shows that the economic landscape for hemp production has witnessed substantial growth. The data elucidates the rising prominence of the American hemp industry, and impressive figures validate this trend.
An Overarching Increase in Hemp Production
The total value of hemp harvested in the U.S. increased by 18% in 2023, reaching $291 million, compared to the previous year, as stated by the NASS. This significant rise showcases the steady transformation of this budding sector, which is in large part due to its versatile...
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