Canola Growers Turn to More Profitable Hemp

Jim Rogers admits it: He’s not sure how this experiment of his will work out.

Mr. Rogers is a lifelong farmer – a wheat-and-canola kind of guy. But he is dabbling in something new. He sowed hemp in some fields this year, hoping to cash in on a growing slice of Canada’s agriculture industry. Mr. Rogers did the math before he put seeds in the ground and figures his hemp crops could be worth much more than traditional crops. At today’s strong prices, experts say farmers can earn twice as much growing hemp as they can growing canola.

“It seems like it is going to pay,” says Mr. Rogers, looking at the 80 hectares of hemp he is growing on the edge of Jackfish Lake, about 170 kilometres northwest of Saskatoon. “I would’ve never done it if we didn’t pencil it out really good.”

And, he adds, “it is kind of fun growing something different.”

Mr. Rogers is part of a budding industry, one boosters hope will take off in the same way canola did. Advocates say hemp has a glowing future in the food industry.

– Read the entire article at The Globe and Mail.