On Tuesday, Hemp Depot announced that it is making a dramatic shift in the pricing of CBD-rich seeds to increase the economic viability and profitability of hemp farming for U.S. farmers. Hemp Depot is among the largest wholesale providers of the highest quality CBD oil products, seeds, and clones in the United States.
Hemp Depot has developed a new process that is innovative and proprietary, which is used to create high volumes of feminized CBD seeds. These seeds produce a CBD-rich crop, and they will sold to farmers at an affordable price, which is 70% lower than the current market prices for seeds that are less productive. The farmers are the ones to benefits because they are provided with an economically viable solution that allows them to increase production and maximize profit per acre.
The CEO and Co-Founder of Hemp Depot, Andy Rodosevich, said that currently, farmers pay an average of 30% of their profits when buying CBD seeds, which is more than twice the average cost of seeds for any other agricultural crops, such as corn. The farmers are also at risk of purchasing CBD seeds that are not feminized at the right ratio of CBD to THC; thus, their crops may end up not producing the correct CBD to THC ratio. Hemp Depot has made these challenges a thing of the past as they have created CBD-rich seed.
Hemp Depot has eliminated the likelihood of the crop being hot because of bad seeds. They have contracted with Phyllos and Botanacore Labs, which conduct tests on genetics and potency, respectively. Both labs conclude that the seeds are 98% feminized with a CBD to THC ration of 26:1.
Rodosevich further said that their feminized CBD seeds are programmed to revolutionize the amount of CBD the farmers produce; thus, creating a promising way to generate more income. He also noted that farming requires a lot of labor, and a bad year can either make or break your business. Hemp Depot developed the feminized seed to provide farmers with an economically viable solution, which would enable them to generate the highest proceeds per acre.
The announcement of the innovative seed production and pricing coincides with the company’s sales setting the record for the year. Rodosevich further said that the company’s sales in January exceeded all of the 2019 sales, which shows that 2020 is already on the path for record earnings.
Luke Pickering, the co-founder of Hemp Depot, said that the development of feminized seed priced affordably would be vital to farmers as it would help in fine-tuning their business models. Farmers would now be paying 30 cents per seed yet previously, they were paying $1 per seed. The difference would make a significant difference in their savings. Pickering further said that hemp farmers are facing a multitude of challenges, and now the farmers will benefit from the breakthrough in seed production and pricing.
Hemp Deport was awarded the certificate for Current GMP (Good Manufacturing Practices) for manufacturing and storing CBD, making it the first CBD firm to earn one. Hemp Depot specializes in seed genetics, harvesting, formulating, planting, wholesaling, and retailing cannabis for CBD for human beings and pets under white labels.
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