The overall assessed price for CBD Biomass saw its first significant uptick this month after an extended period of price erosion, rising 13% month-over-month. Smaller volume deals saw larger proportional price rises than larger ones, according to data reported by our Price Contributor Network (PCN) this month. However, this month’s aggregate price for CBD Biomass is still down by roughly a third compared to a year ago at this time. Reports from market participants on biomass market conditions are mixed, with some saying that they have been able to move their crops, while others continue to tell of persistent overhang from prior years.
While biomass prices rose, rates for CBD extracts again saw widespread declines. While the aggregate assessed price for Refined Hemp Oil, which includes various types of distillates, was on the rise, that was due to a higher prevalence of reported transactions for THC Free CBD Distillate, the most expensive product type in the category.
CBG product prices were uniformly on the upswing this month, with gains for the various product types – from Biomass to Extracts to Seeds – all in the 5% to 9% range. Still, this month’s observed price for CBG Biomass is off almost 80% from a year ago. Apart from seeds, the CBG product that has preserved its wholesale value the most over the past year is Isolate, the price for which is down 37% relative to November 2020.
Delta-8 & Delta-10 THC Distillate*
The observed price for Delta-8 THC Distillate declined for the fifth consecutive month, but stabilized somewhat, slipping just $7 from October to average $872 per kilogram in November. The low end of the reported price range rose to $650 per kilogram, up from $550 per kilogram in both September and October. The high end of the observed price range was stable from October to November at $1,200 per kilogram.
Hemp Benchmarks is able to report prices for Delta-10 THC Distillate this month for the second time. Delta-10 THC Distillate averaged $3,400 per kilogram in November, down 5% from October. Observed deals for delta-10 THC ranged between $2,500 and $5,000 per kilogram, with the reported price range expanding significantly at both ends compared to last month.
Smokable Hemp Flower
The overall assessed price for all types of smokable CBD Flower rose for the fourth straight month in November, as all grow types saw price gains. Higher assessed prices were documented this month despite the low ends of the price ranges for all three grow types dropping notably compared to October.
Indoor-Grown CBD Flower (Bulk)
Greenhouse-Grown CBD Flower (Bulk)
Outdoor-Grown CBD Flower (Bulk)
Smokable CBG Flower* prices were flat from October to November.
Hemp Benchmarks also received sufficient transaction data to report prices for CBN Isolate for the second consecutive month. According to reported deals from our PCN, the average price for CBN Isolate in November was $3,840 per kilogram, up less than 1% from October.
[*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.]
CBD and CBG Biomass prices experience rare rise; CBD extract prices slide again; Delta-8 THC price continues to fall in November, but only slightly; Delta-10 THC price falls in second month of reporting, CBN Isolate price up.
Available data suggests U.S. hemp production set to contract roughly 50% year-over-year as farmers struggle with weather and low prices.
Public company financial filings show CBD sales largely stagnant this year; rare public filings of companies selling hemp-derived THC indicate booming demand.
Rates to ship bulk hemp products generally up in November on increased holiday season demand for trucks.
Governors and hemp advocates urge passage of cannabis banking legislation; Biden names nominee to head FDA.
Industry group announces pilot program to develop hemp-CBD testing and labeling standards; PayPal sued for locking account of business selling CBD; genetics company to give away hemp seed to BIPOC farmers.
Developments in hemp regulation, licensing and acreage, and growing conditions from numerous states.