The USDA has released its first report on the value of the U.S. industrial hemp crop for 2021 and has placed that value at $824 million. This production value comes from nearly 33,500 acres harvested across the U.S. South Dakota hemp producer and owner of Dakota Hemp John Peterson says the report shows a positive trend with South Dakota acreage totaling 1,700 acres.
He noted that in comparison to other crops grown in the area the return on investment was substantially higher.
South Dakota Industrial Hemp Association President Ken Meyer says there are processors and a market for hemp.
Minnesota farmers harvested 2,300 acres of industrial hemp and acreage totaled 770 acres in North Dakota. This is the first report on the crop since it was legalized nationally in the 2018 farm bill.
