Hemp Marketplace Home›Forums›Archive›Economics›America Is Growing 8X The Amount Of CBD Hemp It Can Consume›Reply To: America Is Growing 8X The Amount Of CBD Hemp It Can Consume
I agree that perhaps you may worry if you manufacture distillate or isolate…but I wouldn’t jump to any conclusions as of yet. There is a big increase in the amount of Hemp produced, and I’m sure anybody involved in the industry has noticed this. My company sells smokeable flower, we do notice a shift (big shift) in the prices right now compared to 6 months ago, but what we haven’t noticed is any decrease in demand. CBD oil, and tinctures are priced very high, and it prohibits a lot of people who are teetering on the edge of whether they want to get into CBD from making the jump to actually try any of the products. I am predicting that the more Hemp that is available on the market will drive down the cost of some CBD oils & tinctures and in turn there will probably be an INCREASE in demand as now there are going to be more customers. In my store, because we are buying pounds for a whole lot less now than we were buying at the beginning of 2019, we are able to put out products at prices that are converting a lot of new customers. Myself and several of my colleagues are excited and grateful that this year’s production has increased (hey..thank you to all the farmers for your hard work!) and we hope that this trend continues into next year.