b'CANNABIS CHRONICLESNew Drivers Build Up U.S. Hemp MarketsWhile the golden child CBD pulled hemp into popularity, fiber and grain prove to be more lucrative markets for the future.Alex MartinAFTER A 67-YEARhiatus, industrial hemp has found its acreage again in the U.S. The U.S. hemp rush started in 2018similarly to the Gold Rush, farmers across the country raced to get acres planted dedicated to hemp fields. But, like the Gold Rush, all good things must come to an end. And while hemp acreage hasnt halted completely, it certainly has dropped significantly since that first year. According to the U.S. Department of Agriculture Economic Research Service (USDA ERS), by mid-2019, 47 states had passed legislation to allow some form of hemp production, and acreage increased from zero in 2013 to over 90,000 in 2018. In 2020, the acreage dropped significantly as pricing fell from July 2019 to December 2020, from almost $5.00 per CBD percent-age to less than $1.00 per CBD percentage. The ERS notes that hemp competes for acreage against crops with established mar-kets and decades of agronomic research and industry experi-ence, making it difficult to establish.The hemp industry is going through a lot of growing pains, says Tyler Mark, associate professor of production economics in the Department of Agricultural Economics at the University of Kentucky. That only begs the question: is industrial hemp a lucrative market in 2021-2022 in the U.S., or has the cash cow dried up?A CBD Gold Mine or Bad Harvest?When it comes to CBD, Mark says that its almost like Willy Wonka and the golden tickettheres opportunity, but right now, its more of a rare, lucky break than the standard.A lot of acres capped out in the 2019 year, when we had hit prices or biomass prices in that $4.50 to $5.00 a point per CBD percentage point range, he says. But, there was a lot of excitement in that space when CBD came onto the front. Unfortunately, prices peaked out in July 2019, and then have kind of been on a downward slide ever since.So, not only has CBD prices fallen at the wholesale level, but because of it, at the farm level as well. One negative aspect that looms over the CBD space is theWhile theres been a decrease in CBD acreage, the grain and fiber Food and Drug Administration (FDA).markets are seeing an increase in production in 2021.110/ SEEDWORLD.COMDECEMBER 2021'