While prices for hemp genetics dipped slightly in August, amid the U.S. growing season, CBD biomass stock saw another incremental increase as 2024 harvest supply tightens and demand for material derived from auto-flower genetics increases to satisfy new product development. CBD distillate and isolate pricing inched upwards, while smokable CBD and THCa flower prices rose significantly.
All CBD biomass categories for transactions less than 1 million pounds increased this month with rates not seen since early 2022. CBG biomass prices were flat, as products developed to highlight the cannabinoid lack consumer demand. CBD clone prices rose by 6% as indoor and greenhouse cultivators see strong demand for smokable flower grown in these environments. Not surprisingly during this time of the year, prices for industrial hemp seed for fiber declined as well as prices for feminized CBD seeds while cultivators are focused on managing their growing operations, not purchasing seeds for planting.
THCa flower saw a major price increase in August, with the aggregate category gaining 18.3% per pound. Indoor grown THCa flower saw the largest gains by grow type, climbing 10.5% per pound, while greenhouse grown THCa flower rose 2.3%. An increase in the number of transactions for THCa flower cultivated in these grow environments, as opposed to outdoors, helped to push the aggregate category to its highest level in 8 months.
For the third month in a row, THC Free CBD distillate, Broad Spectrum CBD distillate, and Full Spectrum CBD distillate all had slight increases in average price. CBD Isolate prices also rose, making it six months in a row of positive gains. The current CBD Isolate price assessment is 35% higher than one year ago and the highest it has been since January 2021. CBG Isolate pricing also made positive gains this week, reaching just shy of $800 per kilo and the highest price assessment for the category since November of last year.
Prices for THCv Isolate showed signs of stabilization this month, gaining 0.9%. Over the past 12 months prices for the novelty isomer have collapsed, losing nearly 40%. CBC Isolate prices increased by 1.7% in August, while CBN Isolate prices declined again, losing 4.2% this month.
Although not as prevalent as they once were, demand for HHC and THC-O distillates persists; prices this month increased for the former by 2.1% while they fell by 0.6% for the latter.
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