MARCH 10, 2021
News Advertiser PAGE 7
www.NewsAdvertiser.com
‘Growing Opportunities’ in the Industrial Hemp Industry Michelle Pinon News Advertiser With planting season fast approaching its almost time for producers to finalize their plans for crops and inputs if they haven’t already. There is always the tried and true of canola, barley, wheat, and oats. Pulse crops have been an alternative for decades, but one of the newer options is hemp. In fact, hemp was the focus of a special one-day virtual workshop that featured a variety of experts. Around 200 people attended the recent ‘Growing Opportunities’ workshop that was hosted by Alberta Innovates Vegreville and Alberta HUB, a regional economic development alliance which provide support to communities, businesses, industries, post-secondary educational institutions and government partners in the northeast region of the province. Alberta HUB Executive Director Bob Bezpalko said the event exceeded his expectations. “To have over 200 people registered from across the hemp supply and value chain proved there is increasing interest in industrial hemp from a growers’ perspective, primary processors, and manufacturers. This event also allowed Innotech Alberta the opportunity to update the latest research about hemp agronomy, the growing demand for hemp seed, fibre/hurd and CBD (cannabinoids). The Alberta HUB region has the northern advantage for growing industrial hemp producing higher yields
(approximately 30 percent more for biomass (hemp fibre). He is hoping to have an announcement in the near future and This makes our region very attractive for investment in pri- is very excited about the new prospects as well as construction mary processing (decortication) as investment takes place that will soon be underway in the town’s Agri-Industrial Park. close to the feedstock supply. In turn, investment for manufacturing looks at being close to this primary processing. Reducing costs in transportation. Leading experts fielded questions from participants, and some of the top questions were about “best practices” in growing and harvesting hemp and for what purposes, seed/ fibre/CBD or a combination of each,” stated Bezpalko. Another question was what and where is the market for hemp? “This is where the companies that spoke at this event provided excellent information on their specific needs pertaining to their required hemp supply as well as the market demand for their final product.” Bezpalko said they will provide updated information to everyone who is interested in industrial hemp. “The Alberta HUB region is an excellent location for investment in this sector which can creCommodity markets are complex, fast moving and never sleeping. ate jobs and diversify our regional Understanding market direc on is the key to unlocking revenue poten al. economy.” The Town of Vegreville has been A grain marke ng plan manages risk and maximizes revenues. actively promoting the hemp industry Exceed grain marke ng is 100% independent, with over 330 years of for several years now, and Mayor Tim experience, 200 clients in Western Canada and Northern USA. MacPhee said he has meet with several We work for YOU. investors since the workshop was held.
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