Significantly Wide Range of Prices for CBD Products Still Exists
Leafreport, a medical cannabis research company, investigated the price of CBD products and discovered a wide price gap between the cheapest and most expensive CBD products. Using data for the period April 2021 to November 2021, the company found the price gap declined from 3,682 percent to 3,561 percent, meaning it remains extremely wide. The prices within categories of CBD products also significantly varied and were based on product ingredients.
According to Leafreport research, the popular edibles and the topical CBD products experienced the widest price gaps. The difference between the least and most expensive edible CBD products was 5%. The price difference between the least and most expensive CBD topical products was 11%. The price gap for topicals widened during the research period.
Winston Peki is the chief editor of Herbonaut. He says,
“The basis of difference in prices for all CBD products, whether that’s oils, creams or gummies, is highly related to the production process.”
The production process includes hemp cultivation, the plant parts used, the spectrum the extraction process is designed to produce and the amount of control the CBD product producer has over the steps in the production process.
The point is that the price of CBD products is based on many factors and not just on how much CBD is in the product. Some CBD companies use low-quality ingredients, do not pay for independent testing to produce a Certificate of Analysis (COA) for consumer review and do not have quality control procedures in place. Their products will be priced lower, but consumers are not getting good CBD products. According to Peki, preserving all the cannabinoids and compounds like terpenes and flavonoids for full spectrum and broad spectrum CBD is a more complex process than isolating CBD and thus more expensive.