Canada: Canola Growers Turn to More Profitable Hemp

Canada: Canola Growers Turn to More Profitable Hemp

Farmers in Canada planted 34,000-36,000 hectares of hemp this year – up from 27,000 hectares last year, and 12,000 hectares four years ago.  By 2015 Canadian farmers are expected to plant 40,470 hectares of hemp and by 2018, 101,170 hectares.  Hemp processing in Canada is ramping up as well.  Hemp Oil Canada of Manitoba provides seeds for planting to farmers and contracts the crop before production takes place.  The company expects to process 20 million pounds of hemp seeds this year into oil, hemp hearts, and powder to be ingredients for other foods.  Last year the company processed 12 million pounds of seeds and in 2012 it processed 7 million pounds.   Processors watch the price of canola closely and price hemp accordingly to make it more profitable because they are aware that the hemp will more than likely displace canola acreage.  Per hectare hemp produces approximately half the volume of grain as canola however producers can net between $620 and $1240 per hectare for hemp compared to $495 per hectare for canola.  To read more about the process of growing hemp and the challenges faced by farmers:

 

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