BOULDER, Colo., April 24, 2019 /PRNewswire/ -- PRESS RELEASE -- International Hemp Exchange (IHE), a U.S. hemp company, has announced its status as the official production partner of HGH Seed in the state of Oregon.
IHE has a production facility that offers one million square feet of greenhouse production space where the company produces seeds, starts and smokable hemp flower. In addition, IHE is farming up to 400 acres of their own genetics this year, offering a unique opportunity for wholesale partners as well as farmers.
HGH Seed is the original breeder of many high-quality hemp strains, including Cherry Wine, Berry Blossom and Trophy Wife, among many others. They are regarded as the leaders in the CBD seed industry and were the obvious choice for International Hemp Exchange when looking for the right global partner to support scale in Oregon.
IHE will be producing Merlot and Red Bordeaux varieties, which are set to be in-market by May 15th. These strains represent a limited release of the last HGH feminized hemp seed for the 2019 season.
IHE will also be selling rooted HGH seedlings (seed starts) in 50 cell trays to Oregon farmers and surrounding markets during June and July.
Since passage of the Farm Bill in December, Oregon has registered over 25,000 acres of hemp with more acreage coming online every week. This volume of acreage under production will require more than 50 million feminized plants. Nationally there will be hundreds of thousands of acres grown requiring up to 500 million feminized seeds, seed starts or clones.
The overall CBD market is poised to grow to $22 billion by 2022, and now is the time for farmers to see maximum return from a farm operation.
Mike Leago, president of International Hemp Exchange, said, "There are people attempting to purchase the entire seed supply for the whole season, but as industry advocates we are holding out. We cannot personally reach every hemp farmer in Oregon or around the country, so we need farmers to reach out to us and purchase the seed they need now."
The industry is facing a shortage of reputable genetics, and IHE is honored to be able to offer the highest quality hemp genetics to market.
IHE anticipates selling 30 million seeds and 5 million starts this season. The company has limited inventory available outside of the state of Oregon.