September price assessments for hemp and hemp-derived products were relatively stable compared to prior months, with several categories experiencing marginal pricing movement. With sales of lower volumes of genetics to be anticipated as we near Q4 2024, clones and feminized seeds for both CBD & CBG dominant strains saw increases. Hemp Biomass pricing dipped slightly as new harvests begin coming in from the fields and preparations for storing and drying material to replenish the supply are in full swing. CBD distillates saw declines across all sub-categories, as did CBD and CBG Isolate.
CBD Clones saw a jump of 16% in pricing, as smaller trays are purchased mainly by indoor and greenhouse operations than would be used for planting outdoors in the spring. CBD Feminized seed also regained ground, climbing 4% per seed on average. CBG Clones also increased by 17%, and CBG Feminized seeds rose by 2%.
CBD crude oil maintained its value this month, losing only $1 per kilo on average. The Refined Hemp Oil – Aggregate category lost 2%, with THC Free CBD Distillate and CBD Broad Spectrum Distillate losing 4% each. Full Spectrum CBD Distillate lost 2% per kilo this month, while the CBD Isolate price assessment gained 2% per kilo. CBG Distillate had a positive gain of 3% per kilo, while CBD Isolate lost 2%. The spread between CBG Distillate and Isolate now sits at $196.
The aggregate Smokable CBD Flower category saw a decline of 3.2% this month. The main driver this month was declining indoor grown flower prices. With a 5.6% decline for indoor flower, gains in both greenhouse grown and outdoor grown flower averages – 1.7% and 8.6% respectively – could not keep the overall CBD flower price at the elevated level it has experienced in the mid-summer months.
Despite average price increases across all grow types, the aggregate THCa flower category lost 2.1% this month. As we have documented in our Cannabis Benchmarks reporting, indoor grown flower pricing often recedes as customers seek out lower-priced greenhouse grown flower that are indistinguishable from warehouse grown products. This month greenhouse grown flower saw an increase in total percentage of recorded sales to go along with a 9.4% price increase per pound.
CBN Isolate and CBC Isolate both had strong September price increases, with the former climbing 2.9% per kilo, and the latter jumping up 4.7% per kilo. Demand for these isomers continues to grow, matching the recent price increases.
