U.S. Hemp Crop Valued at $238 Million in New USDA Report

Crop Value Down 71 percent From 2021 Crop

The U.S. hemp acreage saw a significant drop in 2022, a new report from the U.S. Department of Agriculture (USDA) shows. USDA’s National Hemp Report documents major losses in the value and acreage of hemp across every metric that it reported on for 2022.

Last year, “the value of hemp production in the open and under protection for the United States totaled $238 million, down 71 percent from 2021,” the report says.

Planted area for the Nation in 2022 for all utilizations totaled 28,314 acres, down 48 percent from 2021. Floral hemp cultivation was down 66% as compared to 2021 as sales and demand have slowed dramatically due to a failure to regulate by the FDA. Area harvested for hemp grown for grain in the United States was estimated at 5,379 acres, down 35 percent from last season. Area harvested for hemp grown in the open for fiber in the United States was estimated at
6,850 acres, down 46 percent from last season.

Rep. James Comer (R-KY), chair of the House Oversight and Accountability Committee, sent a letter to FDA Commissioner Robert Califf last week, announcing an investigation into the agency’s decision and criticizing the “insufficient rationale for inaction” on CBD regulations.