As the U.S. and Global demand is surging for cannabis and industrial hemp products and services, it is estimated in 2016 the U.S. could import over $500 million in hemp foods, seeds and products made from the crops alone. Industrial Hemp by itself has spawned many new start ups as other possible uses for the crop now include fiber, food, paper, textiles and many industrial applications & uses.
In hemp operations of importance in the markets today: Hemp, Inc. (OTC: HEMP) is proud to announce its first Kenaf harvest from its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, in Spring Hope, North Carolina. Executives say the 150 acres of Kenaf were cut, raked, baled and was transported to Hemp, Inc.’s 70,000 square foot industrial hemp processing facility where it was weighed, stored and paid for. “This is a huge milestone for Hemp, Inc. From seed, to harvest, to paying the farmers, our 150-acre Kenaf crop represents great success in the fact that we were able to inject revenue into the local farming community that we have become a part of,” says David Schmitt, COO of Hemp, Inc.’s Industrial Hemp Manufacturing.
Schmitt said the company has planted another 400 acres this year for its second season as they prepare for a massive hemp crop in 2017, in North Carolina. “We planted 400 acres this year which represents about a 70% increase from last year. The harvest came in just as our truck scale was installed. That was perfect timing because we were able to weigh the Kenaf. ”
Bruce Perlowin, CEO of Hemp, Inc. commented, “This was such a critical cycle that we completed. Once you plant a crop, successfully harvest it and pay the farmers, you have gotten the farmer’s attention. They’ll be eager to grow Kenaf and hemp next planting season. In order to grow the amount of hemp we expect to grow in 2017, having the confidence of the farmers is a must. Even though it’s Kenaf this year, next year, we expect to grow a lot of hemp.” – CNW