There are many companies churning out low-quality mislabeled products just to prey on uneducated customers and the lack of regulation. However, products sold locally are usually more expensive than those you can order online due to the costs associated with running a physical storefront.
While other wellness-related products are regulated and considered legit, CBD companies are taking a big risk bringing products into this loosely regulated consumer market. First is the growing and maintenance of the hemp or cannabis plant.
As A Processor, How Do You Navigate The Plummeting Prices?
Make sure that the company you’re going to purchase from uses organically-grown, non-GMO hemp. If the brand uses CBD what is it CO2 extraction to produce CBD oils, it’s all the better because this method doesn’t require additional heat or solvents. This is the only way to ensure that your product contains the advertised amount of CBD and is free from potentially dangerous additives.
There’s a simple calculation you can make to determine the cost of CBD oil, and compare it with products from other brands to decide whether the price is too low, too high, or competitive. In this article, we break down the specific costs of CBD oil and show you how to save money on premium products. The pricing of CBD oil isn’t as obvious as some people think.
Legal Expenses, Banking, & Other Factors Increase Cost Of Cbd
- Yes as long as it contains less than 0.3% of thc within it, but we recommend you check with your state and the laws they have for the use of CBD products.
- You can avoid by buying from a company with strong and great reputation.
- Due to the FDA not fully regulating the use of cbd oil, there are quite a few companies out there that are fraudulent companies.
- It can be difficult to figure out what you’re paying for when it comes to purchasing cbd oil.
- So we have a few different criteria if you are looking for a cheaper cbd oil.
CBD companies have to pay a high price to bring unregulated products into the consumer market. While recently laws are allowing the cultivation of hemp, some of the legal barriers that have plagued the CBD industry lately still impact it today.
Prices of CBD tinctures can vary widely from brand to brand. It is possible to find a good quality product costing far less than a lower quality one and vice versa. Having a high price for a low-quality product is a misnomer because, with most other products, a high price is an indication of excellent quality.
When you purchase online directly from a brand, you significantly less than you would for the same-quality product in-store. Stronger CBD oils are usually more expensive, but brands often cut down on the price per mg of CBD. This means that buying a product with more milligrams of CBD can be more affordable in the long run, especially if lower-potency oils require you to renew your supplies every few weeks.
Wyoming’S First Vertical Hemp Company Takes Root
The process of making CBD oil isn’t cheap, so it would be naive to expect from companies to sell high-quality products at a loss. If you see a company that claims to sell premium CBD oils on the cheap, it’s an instant red flag.