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Новости/Аналитика

Reasons for the fall in CBD prices in the US

07.08.2020

In the US market, exactly the same trend is observed as in the Canadian market - a significant decrease in the cost of CBD raw materials suggests the economic profitability of its cultivation not indoors or in a greenhouse, but “on the ground”. Most likely, the growth in the volume of sales of the CBD market will continue due to a wide range of various product formats being introduced for sale, which are sold at the lowest prices for the market.

Cannabidiol (CBD)-rich goods in the United States have become cheaper over the past year due to the following factors:

- falling prices for the “green mass” of the hemp plant;

- reduction of production costs;

- coverage of consumers with lower disposable income.

Reducing the cost of raw materials rich in plant cannabidiol

According to one of the largest consulting agencies in the United States, the aggregate price of cannabidiol-rich cannabis leaves and buds decreased by 79% throughout the year (from April 2019 to April 2020). According to published data, the cost of a pound of plant biomass decreased from $ 38 to $ 8.1, i.e. the price of 1 kg of vegetable raw materials decreased from $ 84 / kg to $ 18 / kg.

 Average price per kilogram of cannabidiol in the USA

In particular, Florida-based Global Widget employee Margarita Richardson notes that “We've definitely noticed that the prices of cannabidiol-rich hemp biomass have dropped significantly throughout the year.” This trend is typical not only for any particular regions of the United States, but for the entire market as a whole. According to reports published by analytical and consulting companies in the United States, the cost of producing plant cannabidiol in the country has dropped significantly, as efficient capacities for growing and processing the leaves and inflorescences of a plant with significant therapeutic potential appeared. 

For example, in May 2020, the heads of one of the largest US OTC brands, Charlotte's Web, informed investors that they were forced to cut price lists by 15-20% for all manufactured products. Under the current conditions, the company can afford such behavior in the market, since the decrease in the cost of hemp raw materials has led to a decrease in production costs and, accordingly, a decrease in the cost of production.

Another US brand of CBD products has announced a reduction in its sales of plant-based cannabidiol products from 15% to 55%. The head of Lazarus Naturals points out that "The decrease in prices for finished products is due to increased competition in the market, as well as a decrease in the cost of CBD raw materials used in final products."

New sales channels

The price drop helps CBD manufacturers find new sales channels that appeal to low-income consumers. For example, as the cost of cannabis leaves and inflorescences, which have significant therapeutic potential, is decreasing, manufacturers of final products are emerging in the United States focused on selling CBD products at the lowest price. For example, CV Sciences, a CBD product maker, has announced a new line of plant-based cannabidiol-containing products to the market at the lowest cost compared to the product itself. This strategy of bringing new CBD products to market at the lowest price points to attracting all categories of the US population to purchase CBD.

Such trends in the development of the market are associated with the fact that manufacturers see a decrease in sales volumes and, in this regard, are making efforts to reduce the cost of final products in order to attract more customers to the market. 

 Average selling price per CBD unit in USA

However, it should be noted that falling prices for CBD products from manufacturers and suppliers are reflected on the price tag much faster than the above trend is manifested in retail chains. For example, by tracking the prices of approximately 2,500 CBD products in various retail stores and pharmacies, American consulting companies note that the average price of CBD products has not changed significantly throughout the year. In particular, Nielsen analyst Rick Maturo explains that "price cuts are not widespread in conventional retail stores." He notes that manufacturers of CBD products make higher margins by selling directly to consumers, which gives them greater pricing flexibility at a time when markets are undergoing various kinds of disasters.

Commentary of experts of the Association "Ukrainian technical hemp"

The downward trend in the price of CBD products in the United States in the near future may change the sales picture of products rich in drug-free cannabinoids. The above trends can lead to the bankruptcy of many large companies, as well as a change in the established rules in this market. Lower prices, on the one hand, attract new consumers to the CBD market, on the other hand, do not allow companies that have a significant “cost part” associated with growing hemp raw materials to develop. Those. the US market is showing exactly the same trend as the Canadian market - a significant reduction in the cost of CBD raw materials suggests the economic profitability of its cultivation not indoors or in a greenhouse, but “on the ground”. Most likely, the growth in the volume of sales of the CBD market will continue due to a wide range of various product formats being introduced for sale, which are sold at the lowest prices for the market.

The aforementioned trends in the market for CBD products in the USA, Europe and Canada will be revealed during the training of students of the Hemp University, in particular, during the round table “Experience in using the therapeutic elements of industrial hemp as raw materials for food, cosmetic preparations, biologically active or feed additives ”.

Обучение в рамках "Конопляного Университета"
13.10.2020

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