The Agricultural Utilization Research Institute (AURI) recently released a report on Minnesota’s burgeoning hemp marketplace. The report, Building an Industrial Hemp Industry in Minnesota, is an educational resource for stakeholders, defining opportunities and challenges driving business in this revitalized industry.
The interest and demand for hemp has steadily increased with the identification of new uses in food, cosmetic and beauty products and the CBD extract market. Hemp’s popularity skyrocketed further upon the passage of the 2018 farm bill. The legislation opened the door for growers and processors to more directly engage, participate and profit in the hemp industry. However, because several decades have passed since the growing and processing of hemp last took place in the U.S., there are significant gaps in knowledge, necessitating education, process/market validation and innovation in order to build the industry up to its true potential.
AURI’s new hemp report fills those gaps. AURI conducted more than a year and a half of research and networking to develop a thorough report of the hemp industry, identifying how a marketplace for the product may flourish in Minnesota and the upper Midwest. This research document serves as a resource and guide to further success for the state’s bourgeoning industry and its stakeholders.
The report identifies several areas of product opportunities for hemp in food, fuel, fiber, feed and CBD. In addition, the research identifies several pathways for markets in various sectors, potential supply and demand synergies and infrastructure needs necessary to expand markets in Minnesota.
This report is one facet of AURI’s involvement and support of the state’s growing hemp industry. AURI will continue to dedicate its applied research, innovation networks, and hands-on scientific assistance services to bolster entrepreneurs, value-added partners, and the hemp landscape at large. Specifically, economic investment in the market requires analysis to determine specific pathways for projects to reach their potential for commercialization. This market and end user analysis, which is a changing and dynamic area, is where AURI can provide essential support.
“We are very proud to publish this comprehensive hemp report. This is an exciting time for hemp in the agriculture community in our state. We at AURI encourage entrepreneurs and business sectors to use the knowledge in this report and contact us for assistance,” said AURI Executive Director Shannon Schlecht. “Minnesota is well poised to leverage this emerging crop for commercialization with many uses, and we at AURI look forward to growing this industry in Minnesota together.”
The Agricultural Utilization Research Institute’s mission is to foster long-term economic benefit through value-added agricultural products. It accomplishes this by using science and technology to help develop new uses for agricultural products. It partners with businesses and entrepreneurs to generate economic impact in Minnesota communities by helping businesses take advantage of innovative opportunities in four focus areas: biobased products, renewable energy, coproducts and food. AURI provides a broad range of services, including applied research and development, scientific assistance and a targeted network of resources to develop value-added uses for crops and coproducts.