CBD oil has never been more popular than it is now, thanks to a reputation that rivals most medical products. But if you are one of those who want to try CBD, chances are you might be discouraged by the steep cost. And without in-depth knowledge of the market and its nuances, you most likely got a sour introduction. But why is CBD oil so expensive? And are there any price cuts on the horizon?
What Determines the Price of CBD Oil?
There are a lot of misconceptions about the price of CBD, and people usually blame it all on greed. However, that is rarely the case, as the production process is a long and costly one. From manufacturing costs to the intensive labor put into it, there is a lot that goes into the pricing of CBD oil.
It’s obvious that manufacturing takes a big chunk of every company’s budget. Some manufacturers grow their own hemp, which means that they control the entire process. Those productions usually result in high-quality yet affordable CBD.
Similarly, other companies prefer to purchase hemp that is locally produced — that is, grown in the US. They usually control the extraction part of the overall production process. These brands provide high-quality products, however, their prices are a bit higher than other brands.
And lastly, lower-priced brands prefer to import hemp from overseas, which ends up having much lower quality than homegrown hemp. In some cases, the hemp can be contaminated with heavy metals from the soil it was grown in, which drastically reduces its quality. Those end up being the lowest and cheapest-rated products on the market.
Most CBD companies use two extraction techniques: CO2 and ethanol-based methods. CO2 is the most expensive of the bunch and is the only way to get a solvent-free product. A huge benefit of this method is the ability to control the temperature of the overall process. That allows manufacturers to target specific cannabinoids and provide a high concentration of CBD while retaining the full spectrum of components. Furthermore, the risk of contamination in the finished product is almost nonexistent.
When talking about ethanol extraction, things get messier. It all starts by soaking the hemp plant in ethanol or similar solvents to remove the cannabinoids. Then, the liquid is evaporated and the cannabinoids are extracted. However, the result is a product that still retains traces of solvents, which can hinder the quality of the CBD.
The production of CBD oil is a labor-intensive and time-consuming process that most people don’t think about. Each step takes a specific amount of time and a lot of raw plant material, yet the result is small in comparison.
Aside from that, companies that grow their own hemp also have to handle the growing and harvesting of the raw materials. The time and labor of everyone involved need to be properly compensated for, which is why companies raise the price accordingly.
Things to Keep In Mind When Shopping for CBD Oil
Now that you know the ins and outs of CBD manufacturing, you should be ready to get your own CBD oil. Even so, you still need to be careful and look into every little detail of the product.
It’s important to know that, the next time you find yourself looking for CBD oil, price should be your least concern. Even though the price might be an important factor for you, getting a high-quality product should be your top priority. Paying less can mean paying for solvent-soaked products that might do nothing for your health. Likewise, don’t jump into the most expensive option, as there might be better-priced alternatives out there.
You should always search for products that only contain hemp grown locally in the US. That way, you will avoid dealing with heavy metals that can hinder CBD’s effect. Besides, you should choose products that are extracted using CO2, as those are the cleanest.
Keep an eye out for fakes, as some manufacturers advertise hemp seed oil as CBD oil, both being different products. Not only that but some manufacturers even try to lie about the quality of their CBD oil. Always purchase from brands that provide lab tests and quality certifications.
The Bottom Line
Overall, it’s clear that high-quality CBD oils will have a higher price than other alternatives. And while that might push away some customers, they should know about the hard work it goes into one single bottle of oil.
However, as the industry continues to expand, prices will eventually fall. The demand for CBD will push manufacturers to look for more efficient production processes that will lower the entry barrier. The future looks bright for new users and veterans alike. Nevertheless, you should still give CBD a try now, as its medicinal properties will completely make up for any amount of money you spend.
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