MJBizMag March 2021 - 43

Hemp Acreage in the United States
WA
VT NH
MT
OR
ID
WY
NV
UT
CA
CO
KS
MO
KY
NC
TN
AZ
NM
TX
AK
FL
OK
AR
MS
LA
AL
GA
■ Less than 1,000 acres
■ 1,000-10,000
■ More than 10,000
■ None
SC
NE
IA
OH
IL
IN
WV
VA
DE
MD
SD
ND
MN
MA
WI
MI
PA
NJ
NY
RI
CT
ME
HI
Source: 2021 Hemp & CBD Industry Factbook
and hemp-CBD executive based in
North Carolina, hemp crops can grow
in any type of soil, but the principle that
applies across all healthy crops is good
drainage.
Additionally, growers need to look at
crop history and the controls that were
applied on a particular field, as many
chemistries are extremely persistent in
the soil.
" Things like heavy metals are
particularly important if you're going for
a smokable product, because obviously
you don't want you customer to be
inhaling mercury, cadmium and arsenic, "
Propheter said. " Get a soil sample off for
analysis of pesticides and heavy metals
to ensure that there's nothing out there
in that field that's going to come back to
haunt you later on. "
This is especially true for first-year
growers who are just taking over a
property and might not know the land's
history, he said.
" Even if it's organic land, it's really
important to get that analysis done
because organic does not mean 'not
contaminated,' " Propheter said.
Learn about the area's ecology, as well,
advises Ray. In addition to having soil
tested, growers need to know whether
they can sustainably grow a crop in that
field, whether that means adequate water
or if the land has issues with invasive
species such as ants, deer or other pests.
THE CULTIVATOR'S
QUANDARY:
CONTRACT OR NO?
One of the first rules of cultivation is
to have a contract in place with a buyer
before putting live inputs such as seeds,
transplants or clones into the ground. But
not just any contract will do. Growers
need to do their research and vet potential
buyers to ensure they are reputable before
signing on the dotted line.
According to Propheter, processors
in the industry who are bankrolling
millions of dollars in contracts are
unlikely to have the money on hand to
pay on those contracts.
" Vet that buyer to ensure that they
have the financial wherewithal to keep
good on their contract-and, to take
that a step further, have them put half
the money in escrow prior to you even
putting that crop out in the field, "
Propheter said. " Unfortunately, growers
have to do everything they can to protect
themselves in this market because so
many growers have been burned. "
Hemp prices are extremely low
because of a massive oversupply in
the market and federal regulatory
uncertainty that has hamstrung CBD
products. Consequently, any processor
that is entering contracts covering
thousands of acres might not honor
them, Propheter said. He advises
growers to conduct background checks
and contact references for potential
buyers and look at who the processor's
customers are. If a grower can't access
that kind of information or a processor
doesn't yet have customers, the buyer
probably won't generate the revenue
needed to pay for the contracts.
March 2021 | mjbizdaily.com 43
http://www.mjbizdaily.com

MJBizMag March 2021

Table of Contents for the Digital Edition of MJBizMag March 2021

MJBizMag March 2021 - 1
MJBizMag March 2021 - 2
MJBizMag March 2021 - 3
MJBizMag March 2021 - 4
MJBizMag March 2021 - 5
MJBizMag March 2021 - 6
MJBizMag March 2021 - 7
MJBizMag March 2021 - 8
MJBizMag March 2021 - 9
MJBizMag March 2021 - 10
MJBizMag March 2021 - 11
MJBizMag March 2021 - 12
MJBizMag March 2021 - 13
MJBizMag March 2021 - 14
MJBizMag March 2021 - 15
MJBizMag March 2021 - 16
MJBizMag March 2021 - 17
MJBizMag March 2021 - 18
MJBizMag March 2021 - 19
MJBizMag March 2021 - 20
MJBizMag March 2021 - 21
MJBizMag March 2021 - 22
MJBizMag March 2021 - 23
MJBizMag March 2021 - 24
MJBizMag March 2021 - 25
MJBizMag March 2021 - 26
MJBizMag March 2021 - 27
MJBizMag March 2021 - 28
MJBizMag March 2021 - 29
MJBizMag March 2021 - 30
MJBizMag March 2021 - 31
MJBizMag March 2021 - 32
MJBizMag March 2021 - 33
MJBizMag March 2021 - 34
MJBizMag March 2021 - 35
MJBizMag March 2021 - 36
MJBizMag March 2021 - 37
MJBizMag March 2021 - 38
MJBizMag March 2021 - 39
MJBizMag March 2021 - 40
MJBizMag March 2021 - 41
MJBizMag March 2021 - 42
MJBizMag March 2021 - 43
MJBizMag March 2021 - 44
MJBizMag March 2021 - 45
MJBizMag March 2021 - 46
MJBizMag March 2021 - 47
MJBizMag March 2021 - 48
MJBizMag March 2021 - 49
MJBizMag March 2021 - 50
MJBizMag March 2021 - 51
MJBizMag March 2021 - 52
MJBizMag March 2021 - 53
MJBizMag March 2021 - 54
MJBizMag March 2021 - 55
MJBizMag March 2021 - 56
MJBizMag March 2021 - 57
MJBizMag March 2021 - 58
MJBizMag March 2021 - 59
MJBizMag March 2021 - 60
MJBizMag March 2021 - 61
MJBizMag March 2021 - 62
MJBizMag March 2021 - 63
MJBizMag March 2021 - 64
MJBizMag March 2021 - 65
MJBizMag March 2021 - 66
MJBizMag March 2021 - 67
MJBizMag March 2021 - 68
MJBizMag March 2021 - 69
MJBizMag March 2021 - 70
MJBizMag March 2021 - 71
MJBizMag March 2021 - 72
MJBizMag March 2021 - 73
MJBizMag March 2021 - 74
MJBizMag March 2021 - 75
MJBizMag March 2021 - 76
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2023
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-lighting-23
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2022
https://www.nxtbook.com/emerald/MJBizMag/202210
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-sustainability
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-retail
https://www.nxtbook.com/emerald/MJBizMag/202204
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbiz-buyers-guide-cannabis-security
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag
https://www.nxtbook.com/emerald/MJBizMag/202208
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2022
https://www.nxtbook.com/emerald/MJBizMag/2022-buyers-guide-indoor-grow
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-packaging-automation-buyers-guide-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmagazine-september-2021-lighting-buyers-guide
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-may-june-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-april-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-march-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-february-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2022
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-january-2021
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-november-december-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-october-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-september-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-august-2020
https://www.nxtbook.com/emerald/MJBizMag/mjbizmag-july-2020
https://www.nxtbookmedia.com