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Hemp Oil Canada Plans Expansion, New Facilities
TruthOnPot.com – A hemp food company based in Manitoba plans to open a new facility by the end of 2014, reports The Western Producer.
The new facility is expected to provide double or triple the current space to match the company’s recent growth, said Brenda Giesbrecht, a sales and marketing assistant at Hemp Oil Canada.
“Next spring is when we look to break ground on that [new] facility and have it done by the end of the year.”
Hemp Oil Canada specializes in the processing of hemp seeds, seed oil and flours. The company is Canada’s largest wholesale supplier and private label packager of hemp food, according to its website.
Over the last five years, the company’s sales have increased by 221 percent, ranking eighth highest out of all food processing and distribution firms in terms of revenue growth, according to Canada’s Profit 500 Magazine.
Hemp Oil Canada contracts farmers to produce raw hemp.
Hemp production has also shown dramatic growth and demand is expected to continue to rise, despite a slight decrease in acreage in 2013.
In 2012, 55,000 acres of land were used for hemp farming, up from just under 14,000 in 2009.
Farmers average 70 cents per bushel for traditional hemp and $1.20 for organic – a highly competitive price compared to canola.