All volume categories of CBD biomass saw a slight increase this month, pushing the aggregate CBD Biomass price assessment up 4%. The supply of biomass from the 2023 harvest is now more in demand as reserves of prior harvests have become less desirable. Internationally grown source material continues to make its way to domestic extraction operations, an occurrence that we will continue to monitor to gauge the impact on the U.S. hemp biomass market. CBG biomass pricing held steady this month, despite changes to the low and high prices obtained by buyers.
CBD crude oil pricing demonstrated continued stability this month, with a small decrease of $2 compared to the January assessed price. THC Free CBD Distillate saw a 6% decline per kilogram, with a shrinking price range. Full Spectrum CBD distillate pricing and CBD Isolate pricing have converged to within $1 this month. The Full Spectrum CBD distillate pricing has experienced a precipitous decline over the past 12 months, dropping 33% since reaching a now 3-year high per kilo in March 2023.
CBG Distillate and CBG Isolate have also continued to show a steady downward pricing trend, with the former’s closing February price assessment down 15% from the January price assessment. CBG Distillate prices are down 27% since February 2023, while CBG Isolate has lost nearly 31% in value during that time. The $129 spread between the two price assessments this month is a significant shift from the previous four months, when the average difference between the price assessments was $38.
Delta-8 THC Distillate pricing rebounded this month, climbing 6% per kilo. Despite the monthly increase, the Delta-8 THC Distillate pricing is off 23% from the per kilogram price in February 2023.
The February average price for Delta-10 THC Distillate reached a new recorded low price assessment this month, down 7% from January. The low end of the price range in our collection of transaction data also hit an all-time low of $680 per kilogram this month. As more hemp-derived products gain in popularity, including HHC Distillate and THC-O Distillate, we will be keeping a close eye on the performance of Delta-10 THC Distillate in the U.S. market.
HHC Distillate pricing continues to stay strong after a four-month decline to end 2023. The February average price of THC-O distillate is down from the H2 2023 average, but the increase in observed transactions bodes well for this product as the end of Q1 nears.
Smokable CBD Flower’s overall assessed price saw its first decline in over six months, declining 4% per pound. The decline can be attributed to several factors, including a trend of growing indoor flower to be sold as THCa hemp flower instead of CBD flower, which decreased the number of transactions for high priced CBD flower in this month’s assessment. The February 2024 assessed price for CBD Flower is up 17% year-on-year.
February 2024 Hemp Spot Price Index Report Headlines
Detailed Price Commentary & Analysis
Wholesale CBD Biomass inches higher as CBD Isolate and CBD Full Spectrum Distillate pricing converges
Delta-8 THC Distillate & Delta-10 THC Distillate Price History Review
Both delta-8 THC distillate and delta-10 THC distillate continue price declines as product price spread tightens.
CBD Flower Pricing History & Analysis
Outdoor grown CBD flower prices remain stable while greenhouse grown CBD flower makes the largest gain.
THCa Hemp Flower Price Exploration
THCa hemp flower has become more popular as an option for consumers. Prices are on par with or higher than many state wholesale price indices for legal cannabis state markets.
Hemp Transportation Cost Update
Average shipping rates climb 2% across the board for both Dry Van and Sprinter modes of transportation.
