Every product comes with a price, and such is the case for hemp. Consumers are asking why there is a difference in price with CBD Hemp when compared with cannabis. This is even more confusing considering cannabis, which is rich in THC, may cost less than hemp, which has low THC and high CBD.
The answer to the question lies in the production process carried out by the manufacturers. Although hemp won’t get you high, it possesses a wide array of health benefits from promoting relaxation to dulling pain and anxiety symptoms.
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Retail Hemp Prices
When it comes to the purchase and sales of hemp, the quality, type of hemp as well as the demand for hemp products are all factors in the price. Hemp flower retails at $7.00 per gram or more. Industrial hemp, which is not meant for smoking, can be sold at $200 a pound for low quality, and $1000/pound for high quality.
Justification of Hemp Prices
When it comes to determining the true value of hemp in monetary terms, there are a wide array of factors to be considered before the price of hemp is set. Some of these factors include
Taxes
Taxes are unavoidable, but some products have higher tax rates than others. When hemp products are taxed at a higher rate, that cost is passed on to consumers.
Demand
Since the legalization of hemp in all 50 states in the US, the demand for hemp has witnessed record-high demands. High demand and scarce supply can drive up hemp prices.
Why Hemp is Expensive
There are varied opinions in the US today surrounding the expensive nature of hemp. Of those opinions, there are two common reasons that stand out for increasing hemp prices.
Middlemen Drive Up Hemp Prices
The act of buying hemp online doesn’t mean the hemp has been purchased directly from the farmer. The person selling the hemp may or may not have a direct link to the farm that grew it. Hemp will be more expensive from middlemen that buy hemp in smaller quantities and have to pay to transport it.
Quality vs Hemp Prices
High-quality products are rarely cheap. Smokable hemp flower needs to have the same appealing qualities as top-shelf marijuana. Hemp for smoking is cultivated with much care and attention to detail. Growers incur extra costs for things like high-quality nutrients and indoor vs outdoor growing space.
