Industrial Hemp for Fiber Planning Budget
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Professor, Agricultural Business and Policy Extension
State Specialist, Agricultural Business and Policy Extension
This guide presents information useful to farmers considering industrial hemp production for fiber in the 2021 crop year. Table 1 presents income and cost estimates for industrial hemp fiber production in Missouri based on prices in October 2020. Production and necessary inputs are poorly documented for Missouri. Information from Missouri and other states have been used to develop this budget. Farmers should understand production assumptions used in this budget may not describe their production activities. Assumptions are summarized in Tables 2 and 3. Assumed production is 40 acres. To account for the increased uncertainty in hemp production and marketing, a sensitivity analysis showing the impact on profit of various yields and market prices is included in Table 4.
- Crop budget
- Farm budget
- Industrial hemp for fiber