August 2021 Hemp Spot Price Index Report

August 25, 2021

Some wholesale hemp-CBD product prices were observed to stabilize or rise slightly this month; namely smokable CBD Flower and Refined Hemp Oil, which constitutes different types of CBD Distillates. For Refined Hemp Oil products, more USDA Certified Organic products are entering the market, especially THC Free, pushing up prices across the Refined subcategories.

Other products saw the gradual downward trend in their wholesale prices continue this month. This was the case for CBD Biomass and CBD Isolate. CBG Biomass and extracted CBG products also saw their observed wholesale prices continue to slide this month. In regard to Crude CBD Oil, Hemp Benchmarks observed USDA Certified Organic and THC Free product that helped to buttress the category’s spot price somewhat, but this month’s assessed price for Crude saw an overall decline on an increase in the frequency of reported deals settling under $100 per kilogram.

As falling prices for biomass persisted, the 2021 harvest is set to begin next month. While indications to this point are that CBD hemp production will decline for the second straight year in 2021, how much material from prior years remains marketable and how price will respond to this year’s crop remains uncertain. A Colorado processor stated to Hemp Benchmarks this month that his company has seen “a considerable reduction in inquiries about running 2019 harvest biomass in the last [six] months.” He continued by saying that he hopes “that means that the 2019 glut is close to being all extracted or out of the way and the market [is] thus closer to reaching equilibrium.”

Observed rates for Delta-8 THC Distillate slid for the second month in a row. This month’s average price was down 5% month-over-month. Just like last month, both the low and high ends of the reported price range – $700 and $1,400 per kilogram, respectively – decreased from the month prior.

Smokable CBG Flower prices fell 15% month-over-month, with the average price essentially in line with that for its CBD counterpart. The price range in which CBG Flower was observed to be traded widened in August, with individual transactions from $60 to $700 per pound.

Subscribe to the Hemp Spot Price Index Report for the complete list of price assessments and analysis.

Additional August 2021 Report Contents

Price Commentary

Crude CBD Oil and CBD Distillates see stabilizing prices due largely to more USDA Certified Organic products; prices for CBD / CBG Biomass, Smokable Flower, and other products continue to slide.

August Production Update

Reports that many hemp farmers have exited market are backed up by state licensing data; USDA releases first planted acreage data of 2021 season.

Extracted Hemp-CBD Product Market Update

CBD Biomass still reportedly plentiful, but perhaps dwindling; processors remaining in the market face uncertainty on price, regulations, and COVID-19.

International Wholesale CBD Hemp Flower Price Data

Exclusive Hemp Benchmarks data on CBD hemp flower exports from Uruguay to Switzerland.

Federal Regulatory Update

FDA rejects NDI applications for extracted CBD; USDA program covers some costs of organic certification.

Research Updates

Cornell researchers find no evidence that environmental stress makes hemp go “hot.”

State Updates

Developments in hemp-CBD and delta-8 THC regulation, hemp licensing and acreage, and growing conditions from 14 states.

Hemp Industries Association Midwest Hemp Council National Hemp Association