The month of March saw wholesale price increases across a large portion of the major product categories reported on by Hemp Benchmarks. Genetics for both CBD and CBG rose this month as preparations are being made for the 2025 planting season, and as indoor and greenhouse smokable flower continue serving a niche consumer market. All volume categories of CBD biomass as well as CBG biomass increased this month as domestic source material continues to compete with international supplies. Smokable CBD flower saw the largest percentage decrease this month, with a minor decrease for Crude CBD Oil, and both CBD & CBG Isolate also dipping $4 and $2, respectively.
The aggregate Refined CBD Hemp Oil category, consisting of transactions for THC Free, Broad Spectrum, and Full Spectrum CBD distillates, climbed 3% this month, although the current aggregate price assessment is down 31% from the March 2023 price per kilogram, driven largely by the decrease, and demand, for THC Free Distillate that began in late 2022. Full Spectrum Distillate and CBD Isolate prices continued to trend within a few dollars of each other, closing March 2024 with price assessments separated by $9, an anticipated occurrence considering their common use as input for deriving increasingly popular consumer products.
Prices for CBG Biomass climbed 8% this month. The wholesale price for CBG Biomass is now up 8% from the same time last year. The spread between CBG Distillate and CBG Isolate wholesale price tightened slightly to $112, with CBG Distillate pricing climbing 1% and CBG Isolate prices falling $12 per kilogram, or 2%.
Delta-8 THC Distillate pricing held steady this month, declining a mere $1 per kilogram compared to the February 2024 price assessment. Delta-10 THC Distillate saw a $44 drop this month, a decline of 4.3%. It appears that demand for Delta-10 THC Distillate is wavering, as the current average wholesale price is down 21% year-over-year.
As other trendy products, including THCa Distillate, HHC Distillate and hemp-derived Delta-9 THC Distillate continue to gain a foothold in the U.S. market, the wholesale price for both Delta-8 THC Distillate and Delta-10 THC Distillate have been on a downswing.
Smokable CBD Flower saw its second consecutive month of declining prices, closing with a 9% decline in average price. The aggregate CBD Flower price decline was due to several factors including: reduced volume of indoor grown CBD flower sold, decreases in greenhouse grown flower pricing, and increases in volume of lower priced outdoor flower.
Subscribers to the Hemp Spot Price Index Report are now able to see detailed pricing for THCa flower and THCa distillate, as well as in-depth analysis of delta-8 THC distillate and delta-10 THC distillate.
