CBD prices are falling as companies seek new consumers. Is that a good thing?

CBD products in the U.S. have gotten cheaper over the last year, driven by falling prices for hemp biomass, reduced production expenses, and plans to reach consumers with less disposable income as unemployment numbers soar amid COVID-19.

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The aggregate price of hemp CBD biomass dropped by 79% from April 2019 to April 2020, according to Hemp Benchmarks, a pricing and tracking agency. That means prices decreased from $38.00 per pound to $8.10 per pound.

“We definitely have noticed that the biomass pricing has decreased over time,” said Margaret Richardson, chief compliance and legal officer for Global Widget, in Tampa, Florida. “So obviously that reduces the cost in the supply chain. So we want to have that opportunity to pass that value onto the customer.”

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Joe Medrano, ARM, CCBDCComment