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Hemp farming applications soaring in the U.S. state of Kentucky
1000 farmers have received hemp licenses this year in Kentucky. In 2018 200 farmers in Kentucky grew on 6,700 acres. NOW more than 50,000 acres have been approved to grow hemp in 2019. This is up from 5,200 acres in 2017.
" Kentucky hemp processors made $57.75 million in sales in 2018, soaring from $16.7 million in 2017, with processors outlaying $23.4 million in capital improvements, according to state figures. Kentucky hemp operations employed a total of 459 workers last year, the state said."
Kentucky is in 2018 ranked #3 in hemp acres following Montana and Colorado.
"Kentucky is home to 75,800 farms, from large to small. The average farm size inKentucky is 169 acres, compared to the national average of 444 acres. Kentucky agriculture is dominated by small family farms. About 55 percent of its farms 41,800) have annual sales of less than $10,000." KyFoodandFarm.com
This is big news for farmers in Kentucky. HEMP is the new AG cash crop.