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BUSTED

The CBD-fueled hemp boom has gone bust

A close-up of a mature hemp plant.
Reuters/Nick Oxford
Not so fast.
  • Jenni Avins
By Jenni Avins

senior lifestyle correspondent

Eight short months ago, hemp was the fastest growing crop in US agriculture. As of August, US farmers have reported slashing the planted acreage of the crop by 67%, from 137,000 acres in 2019 to 45,000 acres, according to newly released data from the US Department of Agriculture. This drop follows four consecutive years of US farmers more than doubling their hemp acreage annually.

Blame the CBD boom. Hemp is a source of cannabidiol, also known as CBD, the cannabis-derived compound that consumers use for relief from muscle and joint pain, anxiety, and insomnia.

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