From hemp field days to hemp expos and even hemp festivals, every event about industrial hemp seems to be attracting large numbers of people who are interested in growing this trending crop, but it appears that not enough forethought was allocated to what would happen once the crop is harvested and dried.
Approximately 75 percent of all the hemp that is grown in the U.S. is for the extraction of CBD, but a huge number of people who get into the industry seem to be on the cultivation side of things.
Colorado has had a head start on the rest of the country in growing and processing hemp since it legalized CBD years ago, and this state is now minting money from those who want hemp seed, clones and processing equipment.
In many states, the harvest season is on and some farmers have already started selling their harvest. The challenge is, there may not be enough processors to take on all the hemp that has been grown given the statistics that show that the amount of land on which hemp is grown has more than quadrupled.
According to an equipment supplier in Colorado, many people have realized that there is a need for hemp processing equipment so that CBD can be extracted from the plant matter and the finished product can be taken to the market.
Those people who see the viability of processing hemp to extract CBD are now falling over each other in a bid to get processing equipment and start making money. One cannot blame such people, because the biggest gains are likely to be made now when there is on ongoing shortage of hemp and CBD on the market.
According to the Colorado equipment seller, the people who want the processing equipment want it now, but there is a problem.
Of all the extraction equipment that the equipment seller has tested, one particular piece of equipment seems to be head and shoulders above all the others, and each expo or hemp day where this equipment has been demonstrated has attracted massive buyer interest.
The problem is that the manufacturer of that equipment is so overwhelmed by the current orders that they are asking for a lead time of at least 24 weeks to deliver the equipment. That is approximately six months, and yet hemp is being harvested in various states now, and the harvest season is going to peak in the coming month or two.
It appears that only those who foresaw the demand for extraction equipment will earn top dollar this season, and some farmers may have to sell their crop at a lower price due to the shortage of processing equipment.
Industry experts are convinced that entities like Green Hygienics Holdings Inc. (OTCQB: GRYN) and Hemptown USA may be feeling sorry that not enough people planned to be processors and yet that may be where the real money is to be made.
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