Cannabidiol is amazing, but why is CBD oil so expensive. Whether you are new to the health craze or a seasoned user, it’s common knowledge that CBD isn’t cheap. A CBD oil tincture can cost up to $300, while the prices for the best CBD edibles can rise up to $130 per bottle. That’s about $10 per serving. The medicinal benefits of CBD do appear promising but is it worth that much?
Cost of CBD
The main reason why CBD oil is so expensive is because it is derived from a controversial plant. THC, the compound responsible for the high a user feels after using marijuana, is the reason cannabis has been prohibited around the world for the past century. If cannabis didn’t produce THC as well as CBD it wouldn’t cost as much.
Every aspect of the cannabis industry has a higher cost because of prohibition. Growing hemp costs more than just about every other plant. Everything from the regulations to quality standards to monitoring the THC content add money to the CBD tincture oils.
Farmers that choose to not add pesticides and other harmful chemicals to their crops in turn raise the cost of their product. Organic farms are subject to higher operating costs. While these practices do cost farms more money, many users prefer to have CBD oil derived from organic pesticide free hemp.
The difference between hemp and marijuana can be difficult to consistently produce. Many factors can alter THC amounts in marijuana plants. If growers don’t comply with their allotted THC levels, their crops could be destroyed by the FDA.
Extraction is also a heavily regulated and costly business. Facilities producing CBD products have to make sure their products don’t contain over the 0.3% allowed THC level. Otherwise, they risk being shut down or fined.
Once a CBD product makes it to a retailer, they are tasked with a number of irregularities that don’t exist in other industries. CBD advertisements on the world’s largest platforms like Facebook and Google are prohibited. This creates an increase in marketing budgets, ultimately being paid by the consumer.
Many CBD companies choose to have their products tested by a 3rd party lab for a number of ingredients in their products. Potency tests for CBD and THC, terpene tests, harmful metals, and pesticide tests are all extremely important but do cause CBD oil companies to have high prices.
How Much Should CBD Oil Cost?
After the 2018 Farm bill, basically legalizing CBD federally in the USA, CBD costs have gotten better. Separating hemp from marijuana has created an influx in hemp production. This has driven the cost of CBD down. Paying $300 for a tincture of CBD oil isn’t necessary anymore but the prices are still high.
CBD Price per MG
According to Health.com, ‘the average cost tends to land somewhere between $0.05 to $0.20 per mg of CBD. If you’re paying more than 20 cents per mg of CBD, you’re likely overpaying.’ After reviewing the top CBD brands, this is true. The average price per mg is around 10 cents. Thus, the bottle with 100 mg CBD capsules may cost from $40 to $100.
Types of CBD Oil
The cost of CBD depends on what type of CBD oil you are buying. CBD containing other cannabinoids including THC and terpenes is known as full spectrum CBD. Extracting in this manner costs more than CBD isolate (pure CBD). Broad spectrum is another type of CBD. This is CBD containing other cannabinoids and terpenes without THC. Broad spectrum CBD tends to cost more than CBD isolate as well.
Buying CBD is easier than ever. There are plenty of brands to buy from online and stores popping up on every corner. This is great for the consumer. As regulations ease and more competition presents itself, the CBD user will save on their favorite CBD oil tincture.