The looming federal ban of synthetic or lab-converted cannabinoid, set to be implemented starting November 12th of this year, is being felt across many product categories as harvest season begins. Wholesale distillates and isolates involved in the production of intoxicating products sold across the country are experiencing continued price declines as the pricing floor continues to fall out. Overall, prices for CBD and CBG materials (intended for the manufacturing products that are not at risk for getting removed from the shelves) have maintained relative stability compared to those under the figurative microscope.
Forward contracts for hemp biomass have pushed the individual volume price categories for CBD biomass up slightly this month, while the spot market saw prior year inventory transferred towards the lower price ranges. Feminized seed prices fell 4% as domestic sales of smaller volumes used in warehouse and mixed light operations held off large volume deals sold at heavy discounts to international buyers.
In general, the wholesale price benchmarks for minor cannabinoid isolates and specialty isomers continue their rapid declines, as regulatory changes approach. Over the past year, all of these hemp-derived products have experienced significant drops in value. The Delta-8 THC distillate benchmark is down 23.0% year-over-year, while Delta-10 THC distillate has dropped 18.4%. CBN Isolate and CBC Distillate have both lost over 40% in the average wholesale price since September 2025.
On the other hand, THCa flower has seen prices steadily climb each of the past 4 quarters. The aggregate THCa flower price benchmarks has risen 13.5% since this time last year, led by both indoor and greenhouse grown flower both gaining nearly 10% per pound since this time last year. CBD flower has also held a strong position over the past 3 quarters, gaining 14% since January.
The cost to ship hemp on both Dry Van and Sprinter van rose by just over 2% in September. Higher diesel prices have driven up total costs across all major vehicle types and routes as we close out Q3. Rates to ship hemp are also impacted by the standard cyclical pressure of moving holiday inventory and row crop harvests at this time of year.
