The following is a summary of the contents available within in the FULL REPORT for June 2024.
For the FULL REPORT, including price assessments, history and analysis, visit the subscription page.
Transaction data for many of the core categories of hemp and hemp-derived products followed by Hemp Benchmarks saw a slight decline in June, although prices for Delta-8 distillate, Delta-10 distillate, and THCa flower prices all held steady or slightly increased this month.
CBD Biomass prices across all volume categories declined, albeit minimally, following 10 months of increases. Reports from our Price Contributor Network indicate that a decline in pricing was likely due to the desire to move inventory in order to prepare for overhead costs associated with this year’s efforts, and in some cases to allow for adequate storage space for anticipated harvests.
Refined hemp oil (distillate) products have stabilized over the past 4 months after a steady decline in prices that occurred from June 2023 through February 2024. The CBD Distillate – Full Spectrum price assessment has shown the tightest range of prices in 2024.
CBD Isolate has also maintained an equilibrium price in 2024, with the supply and the demand for the product having reached a balance. CBD isolate is the major input material for isomers such as Delta-8 THC distillate. As demand for Delta-8 THC products and other isomers continues, CBD isolate prices can be expected to stay in balance. Reaching this key level of stability in a commodity market provides more opportunities for buyers and sellers to confidently engage in forward contracts for CBD isolate.
Smokable CBD flower prices saw an overall increase in June, bolstered by a rise in transactions of indoor grown flower priced in the upper quartile. Greenhouse grown CBD flower also increased this month, while outdoor grown CBD flower declined due to larger volume transactions in the lower half of the price range.
The THCa flower price assessment for June 2024 rivals prices for legal THC flower, with the indoor grown THCa flower average price per pound surpassing the price per pound that indoor grown THC flower is averaging in states such as Colorado, Oregon, Washington, Arizona, and Michigan. In-depth coverage of THC flower prices and THCa flower prices can be found in the Cannabis Benchmarks Premium subscription service.
Delta-8 THC Distillate saw an increase in per kilo pricing in June. Delta-10 THC Distillate remained relatively unchanged. The spread between pricing of the two product types reached a new low of $495. The largest price spread between the two product types occurred in September 2023, and was nearly $300 greater than it is this month.
For the FULL REPORT, including price assessments, history and analysis, visit the subscription page.