What Could Growing Hemp Do For Your Profitability?
Tanner and David talk with Central IA farmer Tim Couser about the importance of commodity groups, modernizing the message, and staying in shape. The conversation is then joined by Jeffery Yarosz of Flura to discuss the advancements that have been made in growing hemp and the impact it could have on your bottom line.
Understanding The Hemp Industry and It’s Effects on Profit.
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- What’s working for Ag – listener or farmer feedback - Tim Couser, Central Iowa
- Commodity groups, video messaging, staying in shape.
- It’s not a waste of time if you uncover something valuable-What could hemp do for the industry and your farm.
- Please introduce yourself, your background with hemp, and your company’s role in the process…..
- Jeffery Yarosz CEO of www.flura.com
- Was the 2018 FarmBill a turning point for the hemp industry? Why?
- Yes, federally legalized the growing.
- What is hemp grown commercially used for?
- Nuetrasuticals, paper, plastic, CBD, grains
- What rate is the hemp acres growing? Is there demand to help support the growth?
- What is the best climate to grow hemp in?
- Plants will be bred to be grown in all climates
- When grown do you have to use precautions like security fencing, monitoring, etc….?
- the power of communication is key.
- Up until lately this process has been very manual including the labor from many people. What is the industry doing to make the process more automated?
- Flura is focusing on seed genetics and mechanizing the process.
- Half of our listener base is from Iowa. Is this something farmers in Iowa could look at growing?
- Yes, toughest part will be getting the final product to market.
- What would the outlet be for sale?
- What is the best way for a farmer who has interest in learning more go about doing that?
- We’ve heard of the expertise being tribal, is it hard to farmers to gain knowledge?
- Buy seed by the pound/bushel/unit?
- Sell the grown product by the pound/bundle/unit?
- Our podcast is based on profitability. How can or has growing hemp as a commercial product helped farmers achieve higher levels of profitability?
- What are the numbers roughly for costs to grow and revenue per acre
- revenue could be up to $30/lbs sold and an acre can grow 8000 lbs of material
- Could these prices be tempered as interest spreads for growing the crop?
- For the listener who doesn’t believe in this market as a viable crop, what would you say to them?
- For the listener who is excited to continue learning more and give this crop a try, what would you say to them?
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