As most industry participants are aware, a federal measure was signed into law following the U.S. Government shutdown that puts strict restrictions on what products that are derived from hemp can be sold across the country. Many intoxicating products that have found their way into the hands of consumers face uncertainty over the next 11 months, as new enforcement will go into effect on November 12, 2026. The impact on wholesale prices for many of the hemp and hemp-derived products that Hemp Benchmarks reports on remains to be seen, yet it is likely that a ripple will extend across the industry from seed to sale.
In November, CBD biomass prices continued to climb, matching the same price experienced in November 2021. All volume categories increased as demand remains strong and contract fulfillment is satisfied. CBG Biomass also saw a slight price increase, although the price remains depressed compared to previous years when the cannabinoid was believed to be the next greatest development, prior to the ingenuity and creativity that generated many of today’s most popular consumer products.
While both feminized and non-feminized CBD seed prices dipped slightly, mostly due to large lots traded internationally at bulk discount pricing, CBD and THCa clone prices made gains as indoor and greenhouse operations continue to feed consumer demand. Industrial seeds for fiber and grain also saw prices increase this month as farmers narrow down the genetics that work best in their climates and conditions after assessing this year’s crop performance.
Both CBD Isolate and CBG Isolate declined by 1%; CBD Isolate prices remain 22.2% per kilo higher than the same time last year, while CBG Isolate sits just 1.2% below the November 2024 price assessment. All CBD Distillate categories had increased prices this month, with Full Spectrum CBD Distillate being the only variety that has experienced decreased prices year-over-year.
The smokable CBD Flower aggregate category held relatively steady in November, seeing a minor increase of $1 per pound. The indoor and greenhouse grown flower categories also stayed relatively flat, yet the outdoor grown flower price jumped up over 25% per pound. Even though the high price for outdoor flower remained even with prior months, many trades occurred priced in the upper quartile, driving the increase.
Hemp flower grown for THCa prominence continues to be the most in demand product and the upward trajectory of prices demonstrates its popularity and wide-spread adoption by consumers. This month saw the average price increase by nearly 13% per pound, with both indoor and greenhouse grown product climbing over 10%. An increase in the number and volume of transactions for products prepackaged in specific weights (such as ⅛ and ¼ ounces) was a main driver of the price increase. As THCa flower is one of the main targets of the newly defined restrictions, its accessibility will be impacted significantly in the long-term. Yet until those changes go into effect, its adoption by customers across the country can not be denied.
