Growing Hemp: The Risks and the Rewards

Portia Stewart speaks with Charles Wellso about opportunities for farmers in the hemp space. ( Portia Stewart )

There are tremendous amount of opportunities for farmers, says Charles Wellso, the co-founder of Sanitas Peak Financial and an entrepreneur with investment experience in the hemp space.

“No one controls the genetics right now. There are a lot of opportunities in terms of developing strains,” Wellso says. “There are a lot of opportunities on the protein side, and also the fiber side in terms of developing genetics.”

With great opportunity comes a fair amount of risk as well.

“I think farmers take a tremendous amount of risk already trying to get the appropriate machinery,” he says. “Harvesting is particularly difficult, and we haven't developed specialized harvest equipment. Again, where there's an opportunity with genetics, there are also a lot of issues. The plant hasn't been established throughout the United States, so it hasn't been stress specialized to regions.”

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Read more about hemp seed regulation and availability here.

Use these 4 tips to navigate the hemp gold rush.

Check out these tips to grow hemp.

Farmers can up their smarts on hemp production at Farm Journal Hemp College. During this one-day event, held June 19 in Lexington, Ky., industry experts will discuss the best agronomic practices for hemp production and will also touch upon marketing, legal considerations and policy news.

Educational sessions offered during this one-day event will address:

  • How to source high-quality seed
  • Hemp nutrient needs from A to Z
  • Pest, weed and disease management
  • Steps to developing a marketing plan
  • Legal considerations for hemp production
  • The registration cost for the Hemp College is $149 and includes a continental breakfast and full lunch.

Get more details and register here