Market Executive for Hempco Canada (HFF:TSX.V), Don Mosher shares his thoughts on the growing industrial crop of hemp and where it will head in the future.
We’re in the food business. We sell products made out of hemp seeds. We’ve been selling bulk hemp for six years. And we’re just transitioning into launching a retail line. Hemp seed is the perfect protein for the human body. It grows in clusters at the top of an industrial hemp plant. Hemp’s been used for thousands of years. The records go back 8,000 years ago in Egypt. They used it for rope, they used it for clothing. Constitution of the United States is on hemp paper. George Washington, Jefferson, all grew hemp farms.
So last year, as a private company, we did $4.3 million. This year, we’re projecting 6.4. But with the launch of the retail line, going from January till the end of December, we’re looking at 11 million this year. I think the entire industry has experienced a re-emergence of what was the largest industrial crop in the world is going to grow back into being the largest industrial crop in the world.