Agribusiness  June 20, 2019

Charlotte’s Web’s 2019 planted hemp acreage up nearly 200 percent

BOULDER — Charlotte’s Web Holdings Inc. (TSX:CWEB), a Boulder-based CBD producer, planted 862 acres during the 2019 growing season, up from 300 in the previous season.

That’s a year-over-year increase of 187 percent.

“Interest and demand for our products have been exceptional and growing rapidly,” Charlotte’s Web CEO Deanie Elsner said in a prepared statement. “Our 2019 planting strategy ensures we will have the required raw materials to deliver on production targets for Charlotte’s Web products through 2020 and into 2021.”

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Of Charlotte’s Web’s 2019 planted hemp acres, 166 are in Colorado, 325 are in Kentucky, and 371 are in Oregon.

Charlotte’s Web uses an inventory model whereby it grows more hemp than it needs for the subsequent year to minimize the impact of farming risks and product shortfalls against forecasted rapid market growth, according to a company news release.

 

BOULDER — Charlotte’s Web Holdings Inc. (TSX:CWEB), a Boulder-based CBD producer, planted 862 acres during the 2019 growing season, up from 300 in the previous season.

That’s a year-over-year increase of 187 percent.

“Interest and demand for our products have been exceptional and growing rapidly,” Charlotte’s Web CEO Deanie Elsner said in a prepared statement. “Our 2019 planting strategy ensures we will have the required raw materials to deliver on production targets for Charlotte’s Web products through 2020 and into 2021.”

Of Charlotte’s Web’s 2019 planted hemp acres, 166 are in Colorado, 325…

Ken Amundson
Ken Amundson is managing editor of BizWest. He has lived in Loveland and reported on issues in the region since 1987. Prior to Colorado, he reported and edited for news organizations in Minnesota and Iowa. He's a parent of two and grandparent of four, all of whom make their homes on the Front Range. A news junkie at heart, he also enjoys competitive sports, especially the Rapids.
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