The overall assessed price for CBD Biomass held steady once again to open 2024. There were some continued signs of a modest price recovery, however, as observed wholesale prices for the 0 – 25,000 pound and 100,001 – 1 million pound volume brackets saw upticks.
Wholesale prices for CBD extracts slid across the board in January, continuing the consistent price erosion that has been observed from late last year. We have in recent months heard reports from separate sources stating that CBD biomass and extracts are being imported into the U.S. from Central and South America, which may be putting downward pressure on CBD extract prices even as domestic production of CBD has declined to low levels in recent years.
The observed price for Delta-8 THC Distillate continued its decline, dropping by 5% this month. Delta-10 THC Distillate held steady, as did HHC distillate varieties. Smokable CBD flower prices once again increased, with average prices now over 20% higher than in late 2022, driven by indoor and greenhouse cultivated product gaining a significant foothold in trading volume.
Wholesale Hemp Price Trends
Wholesale CBD Biomass price holds steady for third straight month; CBD extract prices see continued erosion, along with delta-8 THC price; delta-10 price ticks up
January 2024 Hemp Production
Final USDA planting data shows largely steady production from 2022 – 2023, but increasing shift towards fiber and away from CBD.
Hemp Transportation Fees
Average shipping rates jump in January on low post-holiday carrier capacity, extreme winter weather.
Federal Hemp Legislation & Regulation
Advocacy groups publish legislative priorities for hemp in 2024; hemp seed meal moves closer to approval as hen feed; USDA publishes prices for use in federally-backed insurance program.
State Hemp Programs
Developments in hemp regulation, licensing and acreage, and growing conditions from numerous states.