January 2022 Hemp Spot Price Index Report

January 26, 2022

The overall assessed price for CBD Biomass crept upward for the second straight month, following a more significant rise in November 2021. The past three months have seen an upward price trajectory for biomass established for the first time since the months subsequent to 2020’s harvest. Following that previous instance, prices trended downward gradually from January to October 2021.   

Similar to last month, prices for CBD extracts generally fell again this month, with Crude CBD Oil the only exception. The aggregate assessed price for Refined Hemp Oil had been fairly stable in the second half of 2021. However, the start of 2022 saw the overall assessed price for that category, which includes various types of CBD distillate, slide on lower prices across all subcategories, as well as fewer observed transactions for THC Free Distillate, the highest-priced product in the refined category.   

CBG product prices – specifically those for CBG Biomass, Isolate, and Distillate – all dipped this month. CBG extracts had seen rising prices in prior months.

Delta-8 & Delta-10 THC Distillate*

The observed price for Delta-8 THC Distillate declined for the seventh consecutive month, slipping 9% from December to average $763 per kilogram in January. The low end of the reported price range fell to $400 per kilogram, down from $450 per kilogram in December. The high end of the observed price range was stable at $1,100 per kilogram.  

Delta-10 THC Distillate averaged $2,613 per kilogram in January, down 12% from December, when we observed a 13% month-on-month downturn. Prices for delta-10 THC have fallen each month after Hemp Benchmarks began reporting them in October 2021. Observed deals for delta-10 THC ranged between $900 and $2,800 per kilogram this month, a significant departure from the range of $2,400 to $3,500 per kilogram reported in December. As recently as November, the high end of transactions for delta-10 THC was observed at $5,000 per kilogram.

Smokable Hemp Flower

The overall assessed price for all types of smokable CBD Flower largely held steady in January. Rates for indoor-grown flower have fallen by over 5% in each of the last two months. The price for greenhouse flower has also been on the decline recently, albeit by smaller proportions.  

Indoor-Grown CBD Flower (Bulk)

  • The average price is 99% higher than the overall CBD Flower spot price. 

Greenhouse-Grown CBD Flower (Bulk)

  • The average price is 41% higher than the overall CBD Flower spot price. 

Outdoor-Grown CBD Flower (Bulk)

  • The average price is 42% lower than the overall CBD Flower spot price.

Smokable CBG Flower* prices fell 7% this month after the prior three months saw stabilization in this category.

CBN Isolate*

The average observed price for CBN Isolate in January was $3,294 per kilogram, down 9% from December. Individual transactions were reported to span between $2,550 and $4,000 per kilogram this month. Similar to delta-10 THC, prices for CBN Isolate have trended downward consistently in the short history of our reporting on this category, while the upper end of the reported price range has dropped by about $1,000 in the last two months. 

[*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 Biomass and smokable Flower prices notch small gains; most CBD extract prices fell again; novel cannabinoids both intoxicating (Delta-8 and Delta-10 THC) and non-intoxicating (CBG, CBN) see continued steady price erosion.

January Hemp Production Update

Industry contraction continues amidst tough CBD market conditions, prompting stakeholders to look to fiber, grain, and minor cannabinoids for new opportunities.

The Latin American Hemp Market

Hemp Benchmarks and the Latin American Industrial Hemp Association provide an overview of developments in the region’s hemp and cannabis industries.

Hemp Transportation Update

Shipping costs decline somewhat in the wake of the holidays, but remain elevated.

Federal Hemp Regulatory Updates

Industry continues to wait on the FDA to regulate CBD, while stakeholders look to Congress for help.

Hemp Research Updates

OSU study on hemp cannabinoids and COVID makes waves, but more research needed; multiple groups work toward 0% THC hemp cultivars.

State Hemp Program Updates

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

International Hemp Updates

Hemp news from France, Italy, and Pakistan

Hemp Industries Association Midwest Hemp Council National Hemp Association