CBD has never been more popular, and yet it can be an expensive habit. If you’ve ever wondered why such a small bottle can have such a big price tag, we’ve investigated. Plus, discover if it will be cheaper in years to come…
Why is CBD expensive?
Not all CBD is pricey, but the purer blends can be anything from £20 – £50 for a small bottle. One reason for this is that a high demand has inflated prices – after all, hemp farming was largely illegal in most countries until recently. Considering hemp is a crop, like anything else grown on a farm, it will take a few seasons on growth to match the demand. And of course for England, it’s also the matter of having to import CBD from across Europe.
The cost of extracting the cannabidiol from the hemp is also high, as there are currently limited companies and equipment to do this.
The main thing, of course, is to make sure you spend your money wisely – look for high quality organic CBD with a THC level of 0.2% or lower.
Will the price of CBD lower?
On the plus side, the growing demand and the news that many farmers across Europe and the US are swiftly converting fields to plant hemp will mean that stocks of CBD oil are boosted in the coming years. This, and the fact that the market is becoming more competitive every day, should mean that prices for CBD oil start to decrease. There will also be an increase in companies ready to extract CBD, and more equipment to help, which will also reduce costs.
“Within the next two to three years we should begin to see the CBD market supply and demand come into balance and result in lower priced CBD products,” Brian J Baum, President and CEO of CANNOVIA told realsimple.com.