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Economics of Producing Industrial Hemp in NYS, 2019 Budgets

John Hanchar, Farm Business Management Specialist
Northwest New York Dairy, Livestock & Field Crops

January 17, 2019

Summary

  • Variable costs of production estimates for 2019 are $390, $321, and $296 per acre for industrial hemp for fiber only, seed (grain) only, and dual purpose fiber and seed (grain), respectively.
  • Total costs of production estimates for 2019 are $546, $486, and $491 per acre for industrial hemp for fiber only, seed (grain) only, and dual purpose fiber and seed (grain), respectively.
  • Returns above total costs estimates for 2019 are $248, $624, and $867 per acre for industrial hemp for fiber only, seed (grain) only, and dual purpose fiber and seed (grain), respectively.





Industrial Hemp Production Budgets, NYS, 2019 (pdf; 280KB)
  • Download the 2019 Budgets to help make decisions regarding industrial hemp's place in your croppinig systems



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