The month of November saw marginal wholesale pricing increases across many product categories, demonstrating stability and positive correlations between input materials and derivative products that has been sought out for months, if not longer.
The CBD Biomass (Aggregate) category price assessment, as well as volume pricing categories of CBD biomass below 100k pounds per transaction, saw upticks in pricing this month. As recently harvested material is becoming preferred over less expensive material from prior years’ harvests – for which quality is deteriorating – positive gains have resulted for cultivators over the last several months. CBG Biomass, although in less demand than its CBD counterpart, has also had positive wholesale price movement since August.
Smokable CBD Flower continues to follow the same trend line as CBD biomass, with an aggregate price assessment rising as more indoor and greenhouse grown flower is traded, lessening the impact of lower-priced outdoor grown flower on the national average. Crude CBD Oil had a slight uptick in pricing this month, driven by new product reaching market with preferred component ratios, the result of improvements in processing efforts.
The Refined Hemp Oil (Aggregate) index climbed to a level not seen since December 2023, driven by rising Full Spectrum CBD Distillate prices. CBD Isolate prices also climbed marginally to reach its highest level in 14 months. CBD Isolate and Full Spectrum CBD Distillate prices have been long considered a barometer for many other derivative products, and the correlation can be confirmed in this month’s price assessments.
For the second straight month, both Delta-8 THC Distillate and Delta-10 THC Distillate saw rising prices. As was the case in October, Delta-8 THC products had a larger price increase than Delta-10 THC product.
Prices for hemp flower grown for THCa properties saw a second month of declining prices. The aggregate THCa Flower category lost 1.2% per pound in November. The U.S. Cannabis Spot Index reported by Cannabis Benchmarks is currently over 6% lower than the national average for THCa Flower. As legality of THCa products continues to be debated at the state level, an increasing number of cultivators are capitalizing on opportunities to cash in on one of the more lucrative hemp products.
