Information is emerging that the land area allocated to growing hemp this year has hit record highs, and this means that a lot of farmers will be venturing into growing this crop without a lot of experience in anything similar. The following handy tips will help to increase the odds of success for such novice hemp farmers.
Be Careful Who You Trust
Hemp is the buzzword lately and many people are claiming to be experts when they are simply relying on what they heard someone say that they were told by someone else. Such sources of information are unreliable, and you may be setting yourself up for a fall if you depend on this type of information as you grow your first crop. It is therefore advisable for you to look for hemp cultivation information from reliable sources, such as the websites of agricultural university extension services.
Pay Attention to Genetics
Whether you make a profit or lose your entire crop may depend on how much attention you paid to hemp genetics prior to planting. No amount of good agronomic management will squeeze a decent yield from poor genetics, so you are better off starting out with good seed. Note that the high cost of feminized seed has made this segment attractive to not-so-reputable entities that wish to make a quick buck, so do your homework and only buy seed from trusted sources. Once again, the agricultural universities or state agriculture departments can give you pointers to the best sources.
Expect Less Than Ideal Germination
The current hemp seeds available on the market come without any protectants or coatings to ensure that they will not be destroyed before they germinate. Consequently, farmers should expect to see germination failures of at least 10 percent, until this situation is corrected when the USDA releases its rules and seed breeding is standardized for hemp as is the case with other crops.
Keep Costs in Check
Currently, there are no industry standards regarding what it costs to raise an acre of hemp from seed up to the time you harvest. Besides, some costs are variable, such as the cost of human labor needed to perform some tasks (mulching and harvesting, for example).
Since there are many unknowns about the different hemp cultivation aspects, it is best to be as conservative as you can when doling out money for various cost items as you grow hemp so that even if your harvest is moderate, you can still earn a profit since you minimized your costs of production. Do your research on this and try to keep your expenditure below the figures you have gathered for your area. Remember, thousands of farmers are now growing hemp, so the price of the dry matter isn’t likely to be anywhere close to what it was a year or more ago.
The tips above just scratch the surface of what hemp farmers need to do to increase their chance of success, and experts believe that industry players like Neutra Corp. (OTCQB: NTRR) and Organigram Holdings Inc. (TSX: OGI) (NASDAQ: OGI) probably give a detailed cultivation blueprint to the farmers that they work with.
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