Wholesale hemp prices were largely stable to close the year, with nearly all product categories tracked by Hemp Benchmarks seeing relatively small month-on-month changes, if any at all. The assessed price of CBD Biomass was flat from November to December, holding at its all-time low established in the former month. In interviews with market participants throughout this year, many expressed the expectation – or at least hope – that contracting production and shrinking supplies of biomass harvested in previous years would result in a price recovery, which to this point has not come to fruition.
Wholesale prices for extracted CBD saw nearly across-the-board gains for the third straight month, with only Crude CBD Oil experiencing a price decline in December. Still, prices for nearly all types of extracted CBD generally declined in 2022, with year-on-year downturns ranging from 10% (crude CBD oil) to 36% (THC Free CBD Distillate). Only the price for Full Spectrum CBD Distillate is up from a year ago, by 10%.
Wholesale CBG product prices continued their recent steadiness to conclude 2022. Viewed through a longer lens, however, prices in the CBG sector showed little correlation in their movement over the past year. The assessed price for CBG Biomass is up 8% year-on-year, while that for CBG Isolate has tanked 33% since December 2021. CBG Distillate’s observed price in December 2022 was off only 2% from a year prior.
The observed price for Delta-8 THC Distillate was back on the rise in December, the fourth of the last five months to see an increase. The assessed price climbed 4% to average $560 per kilogram in December. The range of reported prices spanned from $400 to $700 per kilogram.
Delta-10 THC Distillate averaged $1,279 per kilogram in December, up just $4 from November’s assessed price. Observed deals for delta-10 THC ranged between $1,000 and $1,500 per kilogram this month, stable from November.
Hemp Benchmarks was again able to observe prices for HHC and THC-O distillates this month. Note that the following are asking prices and are not verified transactions. Asking prices for THC-O averaged $686 in December, down from just under $700 per kilogram last month, while ranging between $500 and $900 per kilogram. HHC distillate asking prices averaged $1,156 per kilogram, down 9% from November, while ranging between $800 and $2,000 per kilogram.
Smokable CBD Flower’s overall assessed price ended the year on the decline. While month-to-month variation in pricing has been observed for this category, December 2022’s aggregate price for smokable CBD flower is down just 4% from a year ago, making it one of the more stable product types in the hemp-CBD sector in 2022.
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December Hemp Price Commentary
CBD Biomass price holds at all-time low; CBD extract prices rise along with Delta-8 and Delta-10 THC prices; Smokable CBD Flower price down only 4% from year ago.
December Hemp Production Update
Market participants look forward to 2023, hope grain and fiber sectors can get a boost from more favorable policy in upcoming Farm Bill.
Latin American Hemp Market Update
Brazilian hemp stakeholders hope that President Lula’s return to office will mean more welcoming climate for hemp industry.
Hemp Industry & Research Updates
Texas A&M receives USDA grant to develop hemp germplasm collection; UN Conference on Trade & Development releases report with recommendations to grow hemp industry worldwide.
Federal Hemp Regulatory Updates
DEA registration requirement for hemp testing labs delayed again; FDA issues more and wider-ranging warnings to CBD companies.
State Hemp Program Updates
Developments in hemp regulation, licensing and acreage, and growing conditions from numerous states.
