As of Dec. 21, average daily U.S. CBD isolate prices were at a five-month high and almost 10 percent higher than they were in October.
U.S. sales of food and beverage products containing CBD or hemp were down 75 percent YOY as of early-December, largely due to a decline in impulse purchases related to COVID-19, per New Hope Network/ Nutrition Business Journal.
In 2019, the average leftover hemp biomass (the material harvested from the hemp plant that is crushed into oils and other products) was around 24,975 pounds per farm, or 135 million pounds nationwide, per Whitney Economics.
This is quite contrasting statistics as one would only assume that the price of hemp product would drop due to its drop in sales but rather what we get to know from this post is that the prices have risen despite lockdown and dip in sales. This shall give the market people a great insight into how the hemp market behaves.
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