CBD Biomass prices continue to have incremental increases in several volume categories tracked by Hemp Benchmarks, pushing the aggregate price up 3% in April. As hurdles continue to impede importing international source material, and prior year harvest material becomes more scarce, sellers who have adequately stored their biomass are able to obtain price points that haven’t been seen since 2021.
More indoor and greenhouse grown smokable CBD flower continue to reach market, resulting in the aggregate price assessment for CBD flower jumping over 10% this month. Prices for outdoor grown CBD and CBG flower are both trending downward, unable to compete with higher quality flower grown in warehouses and mixed-light facilities. Large volume transactions of auto-flower seed pushed the feminized seed price assessment down slightly this month, as some outdoor cultivators appear to favor the trade-off of multiple harvests over a more meticulous and longer growing season.
The CBD Isolate price assessment climbed 6% this month as the input material for deriving many other products continues to be in steady demand. Refined hemp oil products high in CBD, including THC Free Distillate and Broad Spectrum Distillate, saw a slight increase in April, while CBG distillate and isolate also increased, with CBG distillate prices jumping 14% compared to the March price assessment.
Despite a slight decline in THCa flower prices this month, the consumer interest for these smokable flower options – especially in states without legalized adult use cannabis – continues to grow. The decline in the average price per pound is more a result of a competitive wholesale marketplace than of slowing consumer demand.
Both Delta-8 THC Distillate and Delta-10 THC Distillate saw a decrease of over 5% per kilo in April. Kilos of delta-8 saw a $24 decline while delta-10 dipped $54 per kilo along with a high price over $300 lower than last month.
Prices for both HHC Distillate and THC-O Distillate also declined roughly 5% this month, despite increasing volumes of transactions. The HHC Distillate average price was down $30 from the March price assessment per kilogram. THC-O declined $46 per kilogram in April.
Smokable CBD Flower rebounded after consecutive months of decline, buoyed by demand for indoor and greenhouse grown product. An increase in the availability of indoor grown CBD flower is establishing a buyer’s market and drove down prices by 6.8%, this month. The average price for greenhouse grown CBD flower rose 6.5%per pound in April. Outdoor grown CBD flower continues to lose favor by buyers, and as a result the average price declined 9% this month.
Smokable CBG Flower prices also saw a per pound price decline of 9% in April. The number of transactions for Smokable CBG Flower continues to decline as indoor and mixed-light CBD flower, THCa flower, and cannabinoid flower infused or sprayed with additional compounds continue to overshadow CBG-dominant smokable flower.
HEADLINES FROM THE APRIL SPOT PRICE INDEX REPORT
Price Commentary
- CBD Biomass prices continue to slowly rise.
Delta-8 THC & Delta-10 THC Price Review
- Over a 5% decline in average price for kilograms of delta-8 and delta-10 THC in April.
CBD Flower Pricing History
- Aggregate Smokable CBD Flower price increases over 10%, driven by increases in average greenhouse grown flower price and volume of indoor grown flower transacted.
THCa Hemp Flower Price Analysis
- THCa hemp flower pricing declines 5% as wholesale competition increases.
Cannabinoid Market Spotlight – Interview with MC Nutraceuticals
- We spoke with Bret Worley, CEO of MC Nutraceuticals, for his perspective on current and future market opportunities for hemp cannabinoids.
USDA National Hemp Report
- Summary of the National Hemp Report recently published by the USDA.
Transportation Update
- Shipping rates decline for both sprinter and dry van as summer approaches.
