March 2023 Hemp Spot Price Index Report

March 2023 Hemp Spot Price Index Report
March 29, 2023

Wholesale hemp cannabinoid product prices put in a mixed performance this month, with some signs of recovery in the CBD sector, while CBG product prices declined. The assessed price of CBD Biomass inched upward in March; it has remained within a tight range for the past six months, which could serve as a base for future gains. This is the first month-on-month uptick in the price of CBD biomass since September 2022 and only the second in the past 15 months.   

Wholesale prices for CBD distillates were on the rise from February to March. The aggregate price for Refined CBD Oil, which includes several types of distillates, is now up slightly from a year ago. Assessed prices for Crude CBD Oil and CBD Isolate saw small declines this month, however, with both sliding to new all-time lows.   

With planting season approaching, prices for various types of hemp genetic stock are down compared to a year ago, which could attract more farmers and help bring down their expenses. The price for CBD clones has risen 20% since September 2022, but is still down 45% year-on-year. The price for Feminized CBD seeds has trended downward over the past six months and is down 35% from a year ago. The assessed price for Industrial Seeds has remained fairly stable over the past year. 

The observed price for Delta-8 THC Distillate continued to ascend in March, the fourth month in a row of rising prices and the seventh of the last eight months to see an increase. The assessed price rose 2% to average $590 per kilogram in March. The range of reported prices spanned from $450 to $710 per kilogram.  

Delta-10 THC Distillate averaged $1,245 per kilogram in March, up 1% from February’s assessed price. Observed deals for delta-10 THC ranged between $1,000 and $1,350 per kilogram this month.

The average observed price for CBN Isolate in March was $2,014 per kilogram, down 8% from the month prior. Individual transactions were reported to span between $1,250 and $2,600 per kilogram.

[*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.]

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