Business Marijuana

Hemp Inc (OTCMKTS:HEMP) Records Successful Year Of Kenaf Harvest

Hemp Inc (OTCMKTS:HEMP) reported its second successful Kenaf harvest from its subsidiary, Industrial Hemp Manufacturing, LLC, in North Carolina. Officials stated that the 420 acres of Kenaf have been cut and gathered and are now presently being baled. Trucks have now started carrying the kenaf to Hemp’s industrial hemp processing facility.

The buzz

David Schmitt, the COO of Hemp’s Industrial Hemp Manufacturing, stated that it is another remarkable achievement for firm. From seed and harvest, to paying the farmers, the 420-acre Kenaf plant epitomizes success. They are a part of local farming community and to continue recording revenue from something which has become a part, is encouraging.

Though Schmitt anticipates planting a massive hemp plant later this year, this year’s crop harvest, of almost 5 million pounds of Kenaf jointly yielded from numerous farmers in North Carolina, will result in a massive amount of revenue for company.

Kenaf is a yearly, non-wood fiber crop that is native to central Africa. Kenaf is a crop in the Malvaceae family also named Java jute and Deccan hemp. It has been associated to cotton and okra and usually grows 12 to 18 feet tall in a 6-month cultivation season. The raw fiber has been identified to cultivate well in numerous parts of the U.S. and has been stated an eco-friendlier means to make paper without axing trees.

This Kenaf plant being delivered to IHM represents almost a 70% jump from the initial year’s kenaf plant of only 150 acres. As per CEO of Hemp, Bruce Perlowin, the firm anticipates 700% plantage jump next year. This shows up to 50 farmers. Recording every step of the yield, the firm has a video that shows one of the trucks transporting almost 30,000 pounds of kenaf.

Perlowin added that he has been onsite and hands-on and it is an amazing journey for Hemp as well as for the local farmers.

By Emily Gibson

Emily is a graduate from Chicago with a B.A. in Business and Economics. Emily specializes in the biotech and health care sector, but also has a penchant for medical marijuana stocks, mining, retail, and automotive stocks, as well as personal finance and macroeconomic topics of interest.

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