Business Plans to Grow Over 600 Acres of Hemp in Arizona
June 25, 2019 by erfa5t8
HempWave, a hemp farmer, anticipates to plant hemp on more than 600 acres in Arizona this year. The company estimates that it could produce as numerous as 2.1 million pounds of hemp in 2019. At existing market rates of $25 per pound (when offered in its raw type), the company’s item would have a market value of around $52 million.
Their 4 preliminary farms will be found in the Gila River Valley, Eloy and Willcox, HempWave reported. The CEO of HempWave, David Soto, noted Arizona’s prime environment for hemp cultivation as part of the choice to start its operations in the state.
Soto stated, “Arizona is an excellent place for turning into one of the country’s premier commercial hemp business, both legally and from an ecological perspective. We applaud Arizona’s governor and our legislature for moving so rapidly to help Arizona businesses transfer to the forefront of the unfolding commercial hemp transformation. And we eagerly anticipate working with other farmers and landowners throughout the state and around the nation to satisfy the explosive need for industrial hemp products ranging from legal cannabidiol and CBDs to hemp-based materials and building materials.”
HempWave likewise got two Arizona greenhouses amounting to 210,000 sq. ft. for hemp nursery operations.
AP Photo/Gillian Flaccus
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