December 2021 Hemp Spot Price Index Report

December 22, 2021

The overall assessed price for CBD Biomass was essentially stable this month, preserving the 13% price gain that was observed in November. Similar to last month, this month’s aggregate price for CBD Biomass is still down by roughly a third compared to a year ago at this time. 

While biomass prices held, rates for CBD extracts saw declines for the most part. The aggregate assessed price for Refined Hemp Oil, which includes various types of CBD distillates, was on the rise again in December. However, as in previous months this was due entirely to an increase in the price of THC Free CBD Distillate; all other types of CBD Distillate saw price declines in December.  

CBG product prices were largely on the upswing for the second straight month, with the exception being largely stable, but slightly declining prices for CBG Biomass. 

Notable jumps were observed in rates for both Feminized CBD Seeds and CBG Seeds. This is due to the fact that most seed purchases taking place domestically at this time are being made by indoor and greenhouse growers, who typically buy smaller amounts at higher prices.   

Delta-8 & Delta-10 THC Distillate*

The observed price for Delta-8 THC Distillate declined for the sixth consecutive month, slipping 4% from November to average $839 per kilogram in December. This month’s decline comes after we observed some price stabilization last month. The low end of the reported price range fell to $450 per kilogram, down from $650 per kilogram in November. The high end of the observed price range declined as well, from $1,200 per kilogram in November to $1,100 per kilogram this month.  

Hemp Benchmarks is able to report prices for Delta-10 THC Distillate this month for the third time. Delta-10 THC Distillate averaged $2,969 per kilogram in December, down 13% from November, when we observed a 5% month-on-month downturn. Observed deals for delta-10 THC ranged between $2,400 and $3,500 per kilogram this month, with the reported price range contracting significantly. The contraction was due almost entirely to a sharp drop in the high end of the range, which was reported to be at $5,000 per kilogram in November. 

Smokable Hemp Flower

The overall assessed price for all types of smokable CBD Flower declined this month. Despite month-on-month shifts in pricing for this product throughout 2021, the year concluded with December’s spot price settling at roughly the annual average for the year, which was $265 per pound. In 2020, the annual average price for smokable CBD Flower was $185 per pound. 

Indoor-Grown CBD Flower (Bulk)

  • Down 7% from November
  • The average price is 116% higher than the overall CBD Flower spot price. 

Greenhouse-Grown CBD Flower (Bulk)

  • Down 2% from November
  • The average price is 44% higher than the overall CBD Flower spot price. 

Outdoor-Grown CBD Flower (Bulk)

  • Average: Up 2% from November
  • The average price is 41% lower than the overall CBD Flower spot price.

Smokable CBG Flower* prices held fairly steady again in December at $219 per pound, up just $3 compared to both October and November. The observed price range for individual transactions expanded month-on-month, with deals from $80 to $400 per pound reported by our PCN. 

CBN Isolate*

Hemp Benchmarks also received sufficient transaction data to report prices for CBN Isolate for the third consecutive month. According to reported deals from our PCN, the average price for CBN Isolate in December was $3,630 per kilogram, down over 5% from November. Individual transactions were reported to span between $2,675 and $4,700 per kilogram this month, with both ends of the observed price range down about $300 from last month. 

[*Editor’s Note: The prices quoted above for Delta-8 THC Distillate, Delta-10 THC Distillate, Smokable CBG Flower, and CBN Isolate are raw transaction data and do not constitute official Hemp Benchmarks price assessments. Transaction data for such products is currently being vetted to meet Hemp Benchmarks methodology requirements, which include, but are not limited to, several months of statistically significant data and consistent or increasing transaction volume.]

Price Commentary

  • CBD and CBG Biomass prices preserve last month’s gains; CBD extract prices slide again; Delta-8 THC price continues to fall in December; Delta-10 THC and CBN prices both see significant declines in third month of reporting.

December Production Update

  • Tough market, elevated prices for traditional row crops among early signs suggesting hemp acreage may not bounce back in 2022 after contracting in 2020 and 2021.

Hemp Fiber Emerging as New Industry Darling, but Challenges Remain

  • Fiber hemp processing infrastructure and supply chains are developing, but worries about current viability of end markets persist.

Transportation Update

  • Average shipping rates increased across the board again this month on continued supply chain issues and holiday season demand for trucks.

Federal Regulatory Updates

  • Cannabis banking legislation dead for this year; new CBD regulatory bill introduced in the House; USDA updates hemp crop insurance policies for increased flexibility.

Industry Updates

  • Businesses tackle how to deal with spent hemp biomass post-extraction; market forces may lead to more organic hemp.

State Updates

  • Developments in hemp regulation, licensing and acreage, and growing conditions from numerous states.

International Updates

  • Hemp news from Latin America, the European Union, Canada, and Fiji.
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