Expert Economist Slashes Hemp Acreage Forecast By 82% For 2030, Here’s Why
As the hemp industry grapples with regulatory challenges, Whitney Economics has drastically cut its 2030 hemp acreage forecast. The revised projection now stands at just 1.0 million acres, a stark 82% reduction from earlier estimates.
This significant cut could lead to nearly $3.1 billion in lost revenue for U.S. hemp farmers.
Wait-And-See Strategy
Farmers are increasingly adopting a wait-and-see approach due to the uncertain future shaped by ongoing national debates and anti-hemp regulations.
Whitney points to several factors for the forecast downgrade: slow policy developments on hemp in animal feed by the Food and Drug Administration (FDA), and increased legislative focus on re-criminalizing hemp. These issues have stifled necessary investment and infrastructure development in the hemp sector.
“Policy setbacks and restrictive cannabinoid laws have created a highly uncertain environment,” reads Whitney Economics’s statement. This sentiment is shared by investors, one of whom said, “The constant flux in laws makes it hard to …