Glut of ‘green gold’ puts US hemp and cannabis prices on a downer
Overproduction leading to gross oversupply seems to be the main reason behind the drop
27 January 2020 - 17:22
New York — It may not be apparent when you’re spending $70 on CBD foot cream, but hemp prices are plunging amid a “grossly oversupplied” market, according to the head of the industry’s first price provider.
Hemp biomass prices reached a high of more than $40/kg in July, just before the 2019 harvest came in, according to PanXchange CEO Julie Lerner. Today, it is trading under $20/kg after a quadrupling of supply from 2018 to 2019...
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