Wholesale prices for hemp and hemp-derived products were generally on the rise in February, with a large portion of the product categories inching upwards. CBD Biomass returned to December levels, with smaller lots seeing the most improved prices month-on-month. CBG Biomass prices held steady this month despite demand continuing to waver. The majority of the genetics categories had increasing prices, as non-feminized CBD seeds were the only category losing ground. Overall, distillate pricing climbed while isolates fell.
For the second straight month, wholesale prices for smokable CBD flower grown in all environments saw declining prices. Overall, the aggregate category fell 6.3% per pound. Declines for indoor grown and outdoor grown CBD flower were minimal, while greenhouse grown flower had the most precipitous decline, losing 11.8% per pound. Smokable THCa flower also lost value in February, continuing a 6-month decline in prices. Demand for the intoxicating product derived from hemp continues, as do legal challenges across the country, and the dynamics of an open, free market proceed unabated as competition leads to consumer-friendly prices.
Clones and feminized seeds for both CBD and CBG varieties experienced rising average prices, driven by a multitude of factors. First, lowered demand from overseas resulted in a reduction of low-cost, aging seedstock being transacted, most likely due to seasonal changes. Second, on the domestic front, some cultivators are beginning to prepare for their outdoor planting season, while those growing in warehouses and greenhouses continue to procure genetics that will enable them to compete in the smokable flower market.
The THC Free and Broad Spectrum CBD Distillate categories jumped 9% and 5%, respectively, and CBG Distillate climbed 7%, extending its streak of positive gains, with the current average price up a staggering 61% year-over-year. Full Spectrum CBD Distillate lost 6%, while CBD Isolate fell by 3% and CBG Isolate by 1%.
THCv Isolate prices continue to crater, following up last month’s 5.5% decline with a loss of 16.4% in February. This product continues to be the highest priced item we track, yet demand for the isomer is struggling to compete with other intoxicating products. Wholesale prices for CBC Isolate and CBN Isolate also struggled to maintain their position this month, losing 3.5% and 4.6%, respectively.
Delta-8 THC Distillate was up 0.7% in February, while Delta-10 THC Distillate climbed 1.3%. After Delta-8 THC Distillate dipped to an all-time low in May 2024, it has regained value and is currently up 5% over the 2024 average price per kilo. Delta-10 THC Distillate has fluctuated in a $26 range for the last 6 months and is currently down 5.1% from the 2024 average price per kilo.
