October 2024 Hemp Spot Price Index Report

October 2024 Hemp Spot Price Index Report
October 30, 2024

The month of October saw positive price movement across the majority of biomass volume categories with mixed performance for CBD and CBG refined products. THCa flower had minor gains, as did CBD and CBG flower. Seed genetic pricing unsurprisingly decreased slightly while clones for both CBD and CBG varieties had slight price increases to satisfy indoor and greenhouse grow operations across the country. 

All CBD Biomass volume categories, including the aggregate price index (but excluding our largest volume category), experienced gains of 4%-5% this month as processors welcomed new source material. CBG Biomass also increased 3% this month. Feminized and Non-Feminized CBD seed prices fell 2% and 1%, respectively, as domestic demand stalls. International demand remains strong in the Southern Hemisphere, yet this has not resulted in a jump in the price assessments as seed stock is plentiful and sellers are happy to offload aging inventory. 

Clones for CBD, CBG, and THCa varieties remain in high demand as cultivators continue to build outlets for high quality smokeable flower. 

Crude CBD Oil continues with pricing stability as processors maintain balance in supplying their own efforts – for further refinement into CBD distillates and isolate – and providing material for manufacturers they contract with. THC Free CBD Distillate pricing fell 3%, Broad Spectrum CBD Distillate pricing also declined, while Full Spectrum CBD Distillate saw a marginal increase. CBD Isolate pricing climbed 2% per kilogram, increasing the spread over Full Spectrum CBD Distillate to $33 in October.

The aggregate THCa Flower category fell 1.0% per pound. The current price assessment is higher than 8 of the 22 state cannabis market price assessments reported on by Cannabis Benchmarks. THCa Flower grown indoor and outdoor both saw price increases this month, climbing 1.8% and 3.2%, respectively, while greenhouse grown THCa Flower prices fell 3.6% in October.

After a strong September, prices for both THCv Isolate and CBC Isolate experienced declines this month. While THCv prices experienced a marginal 0.7% loss, CBC Isolate fell 5.8% per kilogram despite strong demand. CBN Isolate products had a strong month, with persistent month-on-month demand and a rise in the monthly average price of 2.6% per kilogram.

Wholesale prices for Delta-8 THC Distillate and Delta-10 THC Distillate rebounded after a period of depressed pricing heading into October. This month Delta-8 climbed 2.7%, while Delta-10 THC prices also rose, albeit by a smaller margin. Delta-8 THC pricing is only 3% lower than the October 2023 price assessment, while Delta-10 THC has fallen 18.9% from the October 2023 price assessment. 

Despite decreased price assessments for both indoor grown and greenhouse grown flower in October, the aggregate Smokable CBD Flower category jumped 9.1% per pound. The rise in the composite price is due to a surge in sales of recently cured outdoor grown flower selling in the top half of the price range. The average price of outdoor grown smokable CBD flower increased 12.5% per pound this month.

Hemp Industries Association Midwest Hemp Council National Hemp Association