It’s an exciting time to be in the hemp industry, as interest in CBD and other derivatives has reached a fever pitch. Now more than ever, as businesses in the space continue to develop, it’s crucial to be as efficient as possible. From tracking the life cycle of the plant for developing top-notch SOPs to making sure every part of the harvest is used to its fullest potential, there are many ways to increase profitability and productivity.
It’s time to ask the question: are you getting the most from your hemp crop?
Here are some tips to help you be certain you’re maximizing yield – and performance.
Keep Operations Precise
When it comes to hemp cultivation, every step matters. One misstep could cause an entire crop to fail. Inefficient processes waste resources and put the output at risk. Use down-to-the-minute schedules and track results in order to determine the best system possible.
Choose the Right Cultivars
No two hemp strains are exactly alike. This becomes apparent throughout the production process, as certain cultivars may be easier to grow or provide higher yields. Take note of your crop’s productivity, comparing with other strains while cross-referencing the operations report in order to determine the most profitable option.
Use Your Biomass
The hemp industry isn’t only about the bud produced by the plant. Leaves, stems, and stalks can be used in the production of several different finished products. Referred to as biomass, this extra plant material is valuable and should not go to waste. You can either process biomass in-house or sell to third-party entities – either way, it can equate to increased profit margins overall.
Get the Data Right
Accurate numbers – whether they’re testing results or overall cost per acre of cultivation – are one of the most important pieces of any hemp business. Mistakes could lead to issues with regulators, something no producer wants. Inconsistencies in accounting degrade the overall bottom line. Deploy dependable and advanced tracking software whenever possible to ensure the data is correct every time.