Hemp production slows due to oversaturation

Colorado’s hemp industry is undergoing a market correction, with decreased production following an oversupply in recent years, The Grand Junction Daily Sentinel reports.

“There’s hundreds of thousands if not millions of pounds of hemp flower that has not sold from last year. We created a huge, huge oversupply and you’ll have that in agriculture,” Wacey Clarke, the owner of Colorado Hemp Solutions, told the paper. “We’ve seen that over and over again when you have new opportunities and all of a sudden leave it to the American farmer to really oversupply those new opportunities.”