Qualitative Analysis of Industrial Hemp Production, Markets, and Sustainability in North Carolina, United States

Obed Quaicoe (), Fafanyo Asiseh and Omoanghe S. Isikhuemhen
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Obed Quaicoe: Department of Agribusiness, Applied Economics and Agriscience Education, College of Agriculture and Environmental Sciences, North Carolina Agricultural and Technical State University, 1601 E. Market St, Greensboro, NC 27411, USA
Fafanyo Asiseh: Department of Economics, College of Business and Economics, North Carolina Agricultural and Technical State University, 1601 E. Market St, Greensboro, NC 27411, USA
Omoanghe S. Isikhuemhen: Department of Natural Resources and Environmental Design, College of Agriculture and Environmental Sciences, North Carolina Agricultural and Technical State University, 1601 E. Market St, Greensboro, NC 27411, USA

Agriculture, 2023, vol. 13, issue 4, 1-19

Abstract: The North Carolina hemp industry has fallen short of its projected success despite its potential economic benefits and opportunities for farmers. The floral hemp sector specifically has been struggling due to excessive production and decreasing prices. The objective of the research was to examine the experiences and obstacles faced by early adopters and stakeholders of the hemp industry in NC. Through structured focus group discussions and interviews, data were collected and analyzed to gain insight into the industry’s direction. The results revealed that many floral hemp farmers have abandoned the crop because of financial setbacks, leading to a reduced interest in cultivation compared to five years prior. The floral hemp industry’s rapid growth and decline have tempered farmers’ expectations of the crop’s potential. The findings will provide a foundation for further research into NC’s hemp production and economy, enabling the provision of necessary information and extension services for profitable hemp farming in the state.

Keywords: industrial hemp; qualitative analysis; economics; market structure; focus group; cannabidiol (CBD); startup funds; technical assistance; risk factors (search for similar items in EconPapers)
JEL-codes: Q1 Q10 Q11 Q12 Q13 Q14 Q15 Q16 Q17 Q18 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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