The following is a summary of the contents available within in the FULL REPORT for July 2024.
For the FULL REPORT, including price assessments, history and analysis, visit the subscription page.
The month of August brought declining wholesale prices for many raw material categories monitored by Hemp Benchmarks. Smokable CBD Flower saw the largest percentage decline as an increase in low-priced outdoor grown flower as a percentage of all CBD flower transactions overwhelmed price gains in greenhouse-grown CBD flower. All CBD biomass categories declined marginally this month, as did most genetics categories. The same can be said for CBG raw materials, with biomass, seeds and clones all experiencing declines.
Crude CBD Oil and the Refined CBD Hemp Oil sub-categories of THC Free, Broad Spectrum, and Full Spectrum distillates all had rising prices, as did CBD Isolate. CBG Distillate and CBG Isolate also had positive gains in August.
CBD Clones, Non-Feminized & Feminized CBD Seeds all had declining prices this month, as seasonal demand in the United States reaches a low point. Both seed and clone pricing for CBG dominant varieties also declined by similar percentages this month. As spring begins in the Southern Hemisphere, demand from international cultivators is on the rise.
Crude CBD Oil continues to be the most stable product category in our price assessments. The 2024 average price is only $8 lower than the 2023 average price. THC Free CBD Distillate pricing rose $16 above the 2024 year-to-date average, although current rates are far below the 2023 average price per kilo.
CBG Distillate climbed 4% this month. CBG Isolate also saw an average price increase of 2% per kilo. CBG Distillate is now at pricing levels that were last seen in Q4 2023.
THCa flower pricing saw an overall increase of 1.7%, driven mainly by an increase in the greenhouse grown flower sub-category that outweighed marginal losses in indoor and outdoor grown flower. Prices for THCa flower grown by licensed hemp cultivators continue to challenge wholesale prices in many state cannabis markets.
THCv Isolate and CBC Isolate products also experienced a decline in wholesale prices in August, dropping 1.0% and 3.9% respectively. Demand for these products continues to be strong, with the high end of the price range for both maintaining its position for months.
Both Delta-8 THC Distillate and Delta-10 THC Distillate had declining wholesale prices for the month of August, compared to their July price assessments. The price spread between the two product types declined to the lowest on-record. This month’s Delta-8 THC Distillate price assessment is $7 lower than the 2024 year-to-date average price per kilo, while Delta-10 THC Distillates price assessment is $69 below the 2024 average.
