According to the US Department of Agriculture, the value of the hemp produced in the United States last fiscal year was USD 445 million. This is up 40% from 2023.
USDA Annual Report on Performance of Nation’s Hemp Cultivation Industry 2024 breaks results down in to several categories.
Industrial hemp (all uses):
- Plantation area is expected to increase by 64 percent, from 45,294 acres in 2018 to 45,294 acrees in 2024.
- The production value totaled 417 million dollars, an increase of 46 percent.
- A harvest of 32,694 acres is up by 55 percent compared to 2023.
The flowering hemp plant in its natural state:
- In 2024, production is expected to increase by 159 percent.
- The area harvested is estimated to be 11,827 acres (an increase of 60 percent).
- Average yield: 1,757 pounds per acre, up 669 pounds.
- Floral hemp value: $386 Million, an increase of 43 percent since 2023.
Open grain hemp:
- Production of 3.41 million pounds in 2024 is up 10% from 2023.
- Estimated area harvested at 4,863 Acres.
- Estimated yield at 702 pounds an acre is down 77 lbs.
- The value of grain hemp reached $2.62million, an increase of 13 percent since 2023.
Open fiber hemp:
- In 2024, 60.4 millions pounds will be spent, a 23 percent increase from 2023.
- The area harvested is estimated to be 18,855 acres, an increase of 56 percent.
- The average yield per acre is now 3,205 pounds, a decrease of 848 pounds.
- In 2023, the value of hemp for fiber was $11.2 Million. This is a decrease of 3 percent.
Hemp seeds in open
- In 2024 the estimated weight is 697,000 lbs, down by 7 percent from last year.
- The area harvested is estimated to be 2,160 acres. This represents a 61 percent increase over the previous year.
- The average yield is estimated to be 323 pounds an acre. This is down by 236 pounds.
- The value of the hemp that was grown for seeds in an open field totaled 16,9 millions dollars, up by 482 percent since 2023.
Hemp under protection (indoors, greenhouse etc.):
- The increase in size is 9 percent over 2023.
- Total value was down by 13 percent to $28,7 Million.
In the Hemp Production and Disposition Inquiry (a census of growing operations from all 50 US States), data was collected on acres, production and prices for the crop year 2024. In February and March of this year, 8,153 people responded to the survey. National Hemp Report, April 2025. This includes interesting and additional statistics. can be found here Briefing on Agricultural Statistics Board here.