This story is sponsored by the Legal Marijuana NOW Party of Nebraska.
Nebraska passed the Hemp Farming Act on May 30, 2019. Hemp is now legal to farm and manufacture into products in Nebraska.
This article is intended to inform farmers on how much money can be made by growing and manufacturing hemp into CBD oil on a small 5 to 10 acre plot of land.
Hemp contains cannabinoids that are medicinal and can be manufactured into healthcare products. The most popular cannabinoid is CBD (i.e., cannabidiol) and it can be turned into an assortment of products like oil, creams, edibles, and smokables.
CBD has a huge consumer market that only keeps growing. The supply of manufactured CBD simply can't keep up with market demands.
CBD oil is sold by the milligrams (mg). For example, 300mg of CBD in a 1oz bottle can cost $30 to $60 retail.
The best way to make the most money from a CBD hemp crop is to produce your own product and create your own brand and distribution network. You will miss out on huge profits from CBD products by selling your raw hemp to a manufacturer who probably doesn't manufacture their goods in Nebraska.
If you already grow hemp, take the next step and start producing your own product. Pressing hemp into CBD oil requires less than $1000 worth of tools and supplies in a very small set-up. Scale up as your business grows.
You can sell your final CBD oil product via the internet or to local stores. Consumers and businesses alike have a high demand for locally grown CBD (rather than buy products with imported CBD from other countries). And, local CBD goes for a premium price. Without hardly anyone in the Nebraska market, local farmers can quite easily create a following for their own premium CBD hemp oil.
CBD is natural medicine that helps to treat so many issues like pain relief, neurological disorders, epilepsy, and diabetes. People love CBD because it works and is safer than prescription drugs.