As of Oct. 21, average U.S. CBD isolate pricing was steady month on month, remaining 3 percent below prices seen in early August and 13 percent below the calendar-year high in January.
To better understand public health issues around CBD and other cannabinoids, FDA recently announced plans to use social media site Reddit and other “novel” sources where users share accounts of first-hand experiences.
While FDA has yet to approve smokable hemp or hemp-infused food and beverages, California Governor Gavin Newson did just that on Oct. 6 when he signed Assembly Bill 45, encouraging hemp CBD demand growth in the state.
Looking at the supply side, licensed U.S. hemp area was 284,793 acres for 2021, down 24 percent YOY. The acreage drop off was expected as prices have not rebounded since 2019/20, when production overwhelmed market demand.
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