Vermont Food System Plan Product Brief: Hemp

Hemp is a versatile annual crop and, according to UVM research, is well adapted to Vermont’s climate. In 2018, federal laws established hemp as a regulated agricultural commodity. That year, United States hemp sales grew to $1.1 billion, dominated by cannabidiol (CBD), followed by personal care, food, and industrial products (e.g., building materials, textiles, bio-composites, etc.). From 2016-2018, the first Vermont farms and businesses that jumped in were rewarded with extraordinary prices for their high-CBD hemp. Market research shows the U.S. hemp industry will grow an estimated 19% from 2018-2022, however, as prices paid to producers continue to fluctuate, it is critical that Vermont’s hemp sector prepare for where prices are headed, look to the future, diversify, and innovate.

Read the brief in full on the website here, or download a pdf copy by clicking the "Get Resource" button below.