Sugarmade Inc. (SGMD) Benefits as Farmers are Attracted to the Booming Hemp Market
SGMD is ideally positioned as American farmers seek refuge from the low prices and reduced sales created by the ongoing U.S.-China trade war A recent USDA survey reported an almost 400 percent increase in hemp acreage in 2019 The hemp industry generated more than $1 billion in revenues in 2018, and it is projected to grow to $1.9 billion by 2022 Sugarmade Inc. (OTCQB: SGMD), a supplier of hydroponic and cultivation equipment to growers in the booming industrial hemp sector, is well-positioned to fulfill the needs of farmers who are choosing to cultivate hemp. A thriving hemp market offers farmers…