Why Growing Hemp Leads to More Profitable Farming

Thinking of growing hemp? Are you tired of making only a couple hundred dollars from an acre of produce? Now’s the perfect time to consider growing hemp. In fact, planting a hemp crop is one way to rake in thousands of dollars per acre at harvest time.

Why should you grow hemp?

According to the Modern Farmer article, “So, You Want to Be a Hemp Farmer?” by Brian Barth, “Hemp grows more vigorously than corn, but requires less water, pesticides, herbicides, and fertilizer, earning it a reputation as a sustainable crop” (Barth 2018). Water can be irrigated to crops that need it more and the lack of overhead costs when it comes to pesticides, herbicides and fertilizer will lead to instantaneous savings.

Indeed, sentiments like these echo back as far as 2014. Doug Fine wrote in the Los Angeles Times article, “A tip for American farmers: Grow hemp, make money,” what Colorado farmer Ryan Loflin said, “It takes half the water [to grow] that wheat does…and provides four times the income. Hemp is going to revive farming families in the climate-change era” (Fine 2014).

In order to benefit from any of that, you need to apply for either a license to grow/harvest or process industrial hemp. Both of these licenses are “lifetime licenses,” which means you only need to get it once.

Thinking of growing hemp? Here’s a walkthrough on how to apply for a license

If you’re a new applicant in the State of Wisconsin then you can apply for a license either on paper or online. Online applications must be completed in one sitting, internet session.

What you need to know before filing online:

  • the acreage of your proposed hemp fields
  • the square footage of your greenhouses
  • the GPS coordinates and maps for those fields, greenhouses or any other sites “where you will grow, store or process industrial hemp”
  • a plan for the research you will conduct
  • sign research agreement
  • background check form
  • you’ll need to file reports at the end of the year in order to renew your registration the following year, so be sure to take notes!

After you complete your application you’ll need to create a MyDATCP account in order to reach the payment screen. Fees are as follows:

Chart via the Wisconsin DATCP website, “Industrial Hemp Licensing, Registration and Fees.”

If you’re outside of Wisconsin, check out the interactive “State Laws Related to Industrial Hemp” map to see what the hemp cultivation and processing laws are like in your state.

In addition to being a profitable crop, hemp farming is sustainable and the raw materials can be used in over 25,000 products across countless industries. There’s really no good reason not to start growing hemp and get in on the financial craze of 2019. Call us at 1-(715)-318-0026 to find out more about our hemp farmer partnership opportunities!


REFERENCES:

Barth, Brian. “So, You Want to Be a Hemp Farmer?” Modern Farmer: 09 July 2018. Website: https://modernfarmer.com/2018/07/so-you-want-to-be-a-hemp-farmer/

DATCP. “Industrial Hemp Research Pilot Program.” Wisconsin.gov: December 2018. Website: https://datcp.wi.gov/Pages/Programs_Services/IndustrialHemp.aspx

Fine, Doug. “A tip for American farmers: Grow hemp, make money.” Los Angeles Times: 25 June 2014. Website: https://www.latimes.com/opinion/op-ed/la-oe-fine-hemp-marijuana-legalize-20140626-story.html

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