September 2021 Hemp Spot Price Index Report

September 29, 2021

Hemp Benchmarks’ assessed price for CBD Biomass (Aggregate) fell to an all-time low for the third consecutive month in September. Prior to July, the lowest observed monthly price for CBD Biomass was documented in September and October 2020, during last year’s harvest season. September 2021’s price for CBD Biomass is down 89% from two years ago. 

Prices for most types of hemp-CBD extracts were also observed to slide, with the exception of THC Free CBD Distillate, which ticked upward for the second month in a row and lifted the overall assessed price for Refined Hemp Oil, which includes various types of CBD Distillates. Still, September’s price for THC Free is off 30% from a year ago, as well as being down compared to the January – April period earlier this year.  

Delta-8 THC Distillate*

The observed price for Delta-8 THC Distillate declined for the third consecutive month, slipping 9% from August to average $919 per kilogram in September. Also on trend was the decrease in both the low and high ends of the reported price range – $550 and $1,300 per kilogram – which were down again, by $150 and $100 per kilogram, respectively.  

Smokable CBD Flower

The overall assessed price for all types of smokable CBD Flower ticked up a bit for the second straight month, but remains off from its recent peak, documented in May 2021. Apart from seeds and clones, smokable CBD Flower is the only product covered by Hemp Benchmarks’ price assessments that is showing a year-over-year price increase, with this month’s assessed price up 18% from a year ago. Assessed smokable flower prices have stabilized, settling into a tight $10 range in the past three months and September’s year-over-year increase is much smaller than the 110% price rise observed from May 2020 to May 2021. 

Price data by grow type shows rates for indoor-grown flower largely holding steady, while prices for greenhouse and outdoor product both declined a bit with this year’s harvests beginning to come in this month. 

Smokable CBG Flower* prices slid 6% in September. The observed price range for individual transactions remained stable month-over-month, with deals from $60 to $700 per pound reported by our Price Contributor Network. 

Prices for all other CBG products assessed by Hemp Benchmarks were also down uniformly in September. Notably, the observed rate for CBG Biomass has in the last two months fallen to levels comparable to its CBD counterpart. A year ago at this time, the assessed price for CBG Biomass was over seven times that for CBD Biomass. The overall price for CBD Distillates – the Refined Hemp Oil (Aggregate) category – settled above that for CBG Distillate this month for the first time, while CBG Isolate still commands a large premium compared to CBD Isolate. 

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[*Editor’s Note: The prices quoted above for Smokable CBG Flower and Delta-8 THC Distillate 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.]

Price Commentary

Wholesale hemp and hemp-derived product prices continued their downtrend for the most part, with the exception of Smokable CBD Flower, particularly indoor-grown.

September Production Update

2021’s harvest is underway; market participants and regulators are reporting it is likely the U.S.’s smallest hemp crop since 2017, with production down even in major hemp-producing states.

Delta-8 THC Latest

Federal agencies break their silence on delta-8 THC, with FDA and CDC issuing warnings about such products as industry participants call for regulation.

Hemp Transportation Update

Hemp logistics company expects overall shipping market to remain strained by high freight volumes and shortage of trucks through the end of 2021, keeping prices for shipping wholesale hemp products elevated.

Federal Regulatory Updates

USDA to survey hemp producers; FDA stance on CBD is impacting trademark issues.

Hemp Industry Updates

Association of Animal Feed Control Officials expresses concern over state-by-state efforts to legalize hemp byproducts as feed, calls for more research.

Hemp Research Updates

Studies on weed control for hemp crops, hemp biocomposites, and hemp as building insulation underway.

State Hemp Program Updates

Developments in hemp regulation, licensing and acreage, and growing conditions from 14 states.

Subscribe to the Hemp Spot Price Index Report for access to the comprehensive hemp and hemp-derived product pricing, commentary and analysis.

Hemp Industries Association Midwest Hemp Council National Hemp Association