Over the last couple of years, i.e., after the enactment of the US Farm Bill of 2018, hemp-derived cannabidiol (CBD) products became popular among users. This is due to their many potential therapeutic effects and health benefits. Keep in mind that this cannabinoid produces its physiological effects by stimulating the endocannabinoid system (ECS). CBD oils are one of the most popular and widely used cannabidiol health and wellness products. So, manufacturers are introducing different variants of it with different price points. In this article, we will discuss in detail the factors influencing the price of CBD oil.
What Is CBD Oil?
CBD oil or high-grade hemp CBD oil is rich in cannabidiol, and it is extracted from the flowers, leaves, and buds of hemp plant strains that contain less than 0.3% of THC. Usually, CBD oil made from organically cultivated hemp plants gives the best therapeutic effects and health benefits.
How Much Does CBD Oil Cost?
The value of CBD oil is determined in terms of cost per milligram. For example, if a bottle of CBD oil contains 2,400 mg of CBD, and it costs $120, then the cost per milligram is $0.05.
Why Do People Pay So Much For CBD Oil?
The main reason people buy high-grade hemp CBD oil is due to its many potential health benefits. This increases its demand which in turn results in increased price. For example, people use it for relieving pain, reducing inflammation, improving the quality of sleep, and managing stress and anxiety. Also, it rarely produces adverse side effects at normal doses, which can be avoided with proper dosage and administration.
What Factors Influence The Price Of CBD Oil?
Hemp Source: The best CBD health and wellness product manufacturers in the US source hemp plant parts from domestic farms. Remember that organically cultivated hemp plants are more costly to grow.
The Type And Strength Of CBD Extract: CBD health and wellness products with higher strengths or concentration are costly, but they offer better value.
The Type Of CBD Extract: The type of hemp CBD extract affects the price of CBD oil. Full-spectrum hemp CBD extracts are costly because they contain all the cannabinoids found in the hemp plant.
Premium Ingredients: CBD oil also contains other ingredients like MCT or coconut oil, natural flavorings, etc., and this influences the price of the product.