Tobacco growers may find new avenue in hemp farming More

New Post Public Reply Private Reply Replies (0) Message Board
StanleyK
1,344
Tobacco growers may find new avenue in hemp farming

More and more farmers are putting up their tractors, selling land, or doing whatever it takes to make ends meet. This is especially true of tobacco farmers as the tobacco industry limits the number of acres produced and the profits earned. However, hemp farming, legalized in the 2018 Farm Bill, could change that decline.

Tony Finch, a former tobacco farmer turned hemp farmer, is proof that money can be made in the industry with hard work.

“I hate to see small farmers, just like me, going out of business when they could have tried growing hemp,” Finch said. He grew his second crop this past year and had a successful harvest.

There are misconceptions and misunderstandings of hemp itself, hemp farming, and the farmers who grow it.

“Hemp doesn’t have any drug attributes or psychotropic natures,” said Jason Amatucci, founder of Virginia Industrial Hemp Coalition. “Our product does not even make anything psychotropic like corn making whiskey or grapes making wine. It just looks like something else.”

Amatucci also explained that the 2018 Farm Bill moved hemp of 0.3 THC (the plant’s intoxicating ingredient) or lower, off the controlled substance act and made it an agricultural commodity. The change in the Farm Bill allows for the import and export of seed and provides a way for states to manage licenses for growers. It also allows banks and insurers to list it as a commodity, Amatucci explained.

“At the end of the day, U.S. Code is law and our laws are clear: Hemp is not a controlled substance. It’s a legal crop to grow, and you can’t prohibit it from going through states. Those things came clear as day from the Farm Bill,” Amatucci said.

bg-hemp_bufkin-002-1245x830.jpg

This change is expected to lead to more growth in the industry. And growth is exactly what farmers in traditional tobacco regions need right now. Dropping demand for tobacco and increasing demand for hemp is beneficial for farmers. Finch said that most farmers in his area started looking at hemp out of desperation for another crop to grow.

“The money you can make in hemp, if you do it correctly and have a good crop, is very appealing,” he said.

“The average small family farm in North Carolina makes $22,000 a year. With hemp you can make a million a year, off five acres, once you get it down,” said Bruce Perlowin, CEO of Hemp Inc.

bg-hemp_Bruce_Perlowin-002-1245x830.jpg

The transition from tobacco to hemp, while challenging, is possible if farmers are willing to learn. Finch said this year will be his third-year growing hemp and each year he feels more comfortable with the process. He said his first year was not successful at all, but he preserved and continued trying.

“The barrier to entrance is knowledge,” Perlowin said. “The knowledge of what to do and how to do it. And to not make any of the $50 million mistakes.”

Another challenge is the testing of hemp being used for its non-psychoactive CBD oil. Hemp must test below a threshold of 0.3 percent THC. If a crop tests higher than that, it must be destroyed. The threshold can vary based on the strain grown along with environmental stressors. Since CBD oil is a strong market right now (it can be used medicinally), there are numerous farmers wanting to grow it, but the testing proves challenging.

The biggest benefit tobacco farmers have in growing hemp is through their infrastructure.

“You can’t grow a substantial acreage of hemp without a huge square footage space to dry it in, it has to hang for a week and then be cured. In the tobacco region every farmer has access to a tobacco drying barn. All you do differently, is not turn the heat on,” Perlowin said.

bg-hemp_bufkin-001-1245x830.jpg

Another benefit is the similarities between the two plants, allowing for equipment and knowledge to be repurposed. Perlowin explained that in non-tobacco areas, hemp must be handplanted, but tobacco transplanters can be used to plant hemp on a large scale. “A whole lot of the old knowledge from where I grew tobacco all my life is translating over into hemp,” said Finch.

His advice is to ask questions of other farmers growing hemp, but still trust your farmer’s gut when making decisions. Perlowin and Amatucci, along with farmers like Finch, also suggested consulting with other experts before investing completely in hemp since it is still a new crop. They both believe there is only growth to come for at least a few more years for the hemp industry and for the farmers growing hemp.

“At the end of the day, if a farmer can grow something that makes a profit, that’s a good thing,” Finch said.

Source...

Hemp, Inc. (HEMP) Stock Research Links

HEMP Board Company Profile Buy Rating Time & Sales News Filings Financials
Scroll down for more posts ▼

Top 10 Most Recent News Articles

Luxury Travelers Prefer Private Jets for Time Savings

Updated Category News Views 12

The Evolving Landscape of Luxury Travel Time, it seems, is the new currency in the realm of luxury travel. Forget plush hotel suites or exclusive first-class cabins—the new game is all about maximizing your moments at the destination rather than en route. 2026 showed us vivid snapshots of this trend, courtesy of SELECT Private Jets by Internova, revealing how...

Continue Reading
Prospanica Summit 2026: Envisioning More Opportunities Ahead

Updated Category News Views 9

The Road to Envisioning 'Más': A Dive into the Future Let's break down what's ahead with the 2026 Prospanica Summit—a collision of ambition and opportunity set to strike at Marina Del Rey. It's a Saturday—November 7th to be exact—when all this goes down, aiming to shake up the aspirations of Hispanic MBAs and business pros from coast to coast. Think MBAs,...

Continue Reading
Black Leg Ranch Wins 2026 Noble Stewardship Award

Updated Category News Views 2

The Doans Set an Example in Regenerative Management Imagine running a ranch that's been in the family since 1882 and still finding ways to innovate. That's Black Leg Ranch for you, guided by the hands of the Doan family in McKenzie, North Dakota. They've been recognized with the 2026 Noble Land Stewardship Award for their impressive regenerative management efforts. A...

Continue Reading
AI Tool circMAC Enhances MicroRNA Mapping on circRNAs

Updated Category News Views 0

Mapping the Complex Maze of MicroRNA on Circular RNAs Pusan National University's brainiacs have cooked up something spicy for the bioinformatics world. They've developed this snazzy AI tool, circMAC, to unravel microRNA binding mysteries on circular RNAs. 'Why’s this such a big deal?' you ask. Well, these loop-shaped critters, circRNAs, play a backstage role in gene...

Continue Reading
Gildan Activewear Faces Class Action over Alleged Fraud

Updated Category News Views 11

A Battle Over the Truth: Gildan's Legal Troubles Alright, buckle up, folks—it's time to dig deep into the gritty side of investing, where the glossy annual reports meet cold, hard skepticism. Gildan Activewear Inc., or GIL on the NYSE if you're still keeping track, has managed to embroil itself in some legal stews that even a seasoned trader like me can't ignore. Let's...

Continue Reading
SKF Joins Nordic Compass for Energy Efficiency Boost

Updated Category News Views 6

The Critical Role of Friction Reduction Right off the bat, we’ve got to face facts: a whopping 20% of global energy goes toward overcoming friction. SKF, with a heritage built on tackling this issue, sees the global energy challenge as a golden opportunity to innovate and shake things up. They've hitched their wagons to the Nordic Compass alliance, aiming straight at...

Continue Reading
Veterinary Industry Could Unlock Growth by Empowering Technicians

Updated Category News Views 0

Doors Not Fully Open for Vet Technicians Here's the skinny: the vet industry’s sitting on a goldmine of untapped potential right under its nose. According to a fresh study by Penn Foster, there's a glaring disconnect between what vet techs are trained to handle and what they're actually allowed to do in practice. If practices start trusting these pros to do their thing,...

Continue Reading
European Flavors: A Halloween Food Revolution

Updated Category News Views 7

Who would've thought Halloween would toss a spin on fine dining? What's usually known for candy corn and spooky costumes has teamed up with European flavors for a night unlike any other. And we're talking more than just trick-or-treating here, folks. A New Kind of Halloween Spread This year, The Charming Taste of Europe has thrown itself into the Halloween festivities,...

Continue Reading
AI Campuses Drive Surge in Power Cable Market

Updated Category News Views 3

Surge in Data Center Power Cable Demand Walking down the old data center aisle, you'd never imagine so much copper snaking its way into the modern megalith of AI campuses. But here we are, staring at a market projected to leap from USD 1.74 billion in 2025 to a whopping USD 4.72 billion by 2035. That's a compounded annual growth rate (CAGR) of a robust 10.50%, and it’s...

Continue Reading
Ecopetrol Ushers New Executive Leadership for Transition

Updated Category News Views 3

New Blood Steering the Energy Transition Let's crack open the vault on Ecopetrol's recent maneuver: Armando José Cuello Navarro is stepping up as the new Executive Vice President of Energy Transition. It's like handing the wheel to a seasoned driver in a storm—this guy’s got the chops to navigate Colombia's energy maze. Cuello's resume reads like a textbook on energy...

Continue Reading

Top 5 Most Recently Viewed Articles

Understanding Important Price Levels for Amazon Stock

Updated Category News Views 417

Understanding Important Price Levels for Amazon Stock Every stock chart tells a story, and the dynamics at play in the market can be quite revealing. Investors often notice that certain stocks behave predictably when they reach specific price levels. For instance, stocks can either become overbought or oversold, which often leads to noticeable reversals in their price...

Continue Reading
The Future of Cashless Payments: What Consumers Should Know

Updated Category Personal Finance Views 396

Introduction to Cashless Payments For the world of personal finance, this move away from cash has become a trend as the focus shifts towards non-cash payments. This change does not only affect the way how transactions occur but also in the way money is being handled. Notably, understanding this shift can better equip the consumers as stakeholders in this evolving...

Continue Reading
Pending Home Sales Surge in September Amid Market Shifts

Updated Category News Views 82

Overview of September's Pending Home Sales Increase In a notable shift, pending home sales in September increased by 7.4%, marking the highest level observed since March. This boost in sales activity was evident across all major regions in the U.S., suggesting a robust recovery in the housing market. Regional Trends in Pending Sales The increase in pending home sales was...

Continue Reading
Celebrate Earth Month with Consumers Energy's Appliance Rebates

Updated Category News Views 156

Celebrate Earth Month with Consumers Energy Neighbors can reduce their carbon footprint and save on the cost of energy bills by recycling old appliances. Recycling Efforts for a Greener Future As the days of April bring warmer weather, Consumers Energy takes the initiative to promote sustainability. This month, all electric customers are encouraged to participate in a...

Continue Reading
OKX Introduces MORPHO and Exciting BONK Campaign

Updated Category News Views 149

OKX Unveils New Trading Opportunities with MORPHO OKX, a prominent cryptocurrency exchange and leader in blockchain technology, has recently announced significant updates. Among these is the upcoming listing of MORPHO, the token driving the innovative Morpho lending protocol. The trading of MORPHO will commence on OKX's spot market, creating exciting prospects for traders...

Continue Reading