Have you ever wondered why a 50mL bottle of CBD oil costs so much? We have to, which is why we wrote this article. Join us as we take a look into the hemp industry and why CBD products seem to cost so much more than their THC-rich counterparts.
When looking at various CBD products and their associated price tag - you’d think you were buying liquid gold. For example, a 30mL bottle of CBD from Charlotte’s Web costs a mind-boggling $164. That number doubles when the bottle increases to 100mL.
Although CBD is incredibly helpful and supportive, it appears that CBD companies are potentially taking advantage of your wallet. The main issue, in this case, is the fact that most serving sizes are 1mL, which means a 30mL bottle contains 30-servings. If taken daily, $164 will only last a month, which is a very short time frame and expensive need when looked at over the long term.
Not every CBD company charges an arm and a leg, but the fact remains - why is CBD so expensive?
Hemp is touted as an easy-to-grow and sustainable crop that requires less water and nutrients when compared with traditional cannabis. Hemp is also the primary plant that’s used for CBD extraction. Therefore, how is it that such a low-cost crop is churning out CBD products that are astronomically more expensive than nearly and cannabis product - ounce for ounce?
Some CBD companies will claim that their prices are high because of the extraction process; however, this is unlikely because they utilize professional-grade equipment that quickly pays for itself.
Furthermore, the production of hemp is increasing now that the United States federally allows it. This means that many CBD companies outsource their hemp and purchase it at an incredibly low cost. In the end, the CBD oil that they extract costs pennies.
The economics behind CBD oil and its price made us scratch our heads because many CBD companies tout cannabidiol as an incredible supplement that can benefit everyone. Yet, the fact remains that the high price is an effective barrier for most, which keeps many away from indulging in the supplemental qualities that CBD has to offer.
In the end, CBD companies charge so much because hemp and CBD are novel. These fairly new products are trending, and many consumers are hoping to find a new wonder-drug. However, many will be disappointed to find that CBD doesn’t cure things overnight. Instead, CBD is a supplement that can support various mental and physical issues that have been documented by researchers.
Although it will take time, CBD will become cheaper. However, it’s going to take time for the fad to wear off and further regulations to reign in the current CBD industry. Until then, you can expect sky-high prices when it comes to CBD products.