There is mixed market potential for hemp in Minnesota. That’s according to a new report from the Agricultural Utilization Research Institute. AURI Project Development Director Harold Stanislawski says there are dramatic strides being made in the CBD oil sector since the 2018 Farm Bill passed. “We have at least five extractors in the state set up and the investment is close to more than $3 million of extraction equipment ready for the 2019 crop. That’s good,” says Stanislawski. “Quite frankly, it’s a good market for oil.” The fiber sector has room for improvement. “We don’t have any decorticators in the state on a commercial basis yet. We’re starting to do a feasibility analysis on that before recommending farmers plant hemp for the fiber market. Other sectors, like food, has potential, but to get a decent price, farmers should grow on contract.” Read the full report.
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