By Noah Chen
When it became legal to farm and selling CBD products in 2018, the market exploded. Somewhat predictably, there was a massive shift toward the industry, and almost overnight CBD and other hemp-derived products began hitting store shelves.
The initial boom of the CBD market left many farmers with heightened expectations. They were ready to jump into the lucrative world of CBD farming. Of course, it is the nature of market booms to eventually flatten out. We’re seeing the same thing happen with CBD prices.
Revenue for farmers and producers of CBD and hemp have fallen, in some areas as much as 60 percent. However, CBD-focused hemp farms are still very lucrative. An acre of high-yield CBD plants potentially bringing in $15,000 – $40,000. When compared to the $850 per acre corn brings in, that’s a pretty steep increase!
When it comes to profiting off of your hemp biomass, knowing the ins and outs of the market is key. Here’s some CBD selling tips to make the most money off selling your hemp biomass.
Not all CBD is the same
The first CBD selling tip you’ll need to know is buyers will pay differently based on the state of your hemp. For instance, dried hemp biomass sells for around $1.31 per percent of CBD per pound.
However, if you cut, dry, and cure the flowers, you can expect to sell them for around $230 a pound. Since most hemp is about 11 percent CBD, you’re already making roughly $215 more per pound if you’re able to dry and cure the hemp.
Processors like Arbor Vita8 make it easy to dry your hemp. Our high-quality dryer will not only get your hemp to the optimal percentage of moisture, but will do so faster than air drying. By working with an experienced processor, with access to superior equipment, you’ll get a leg up on the competition. Your product is ready faster.
Selling more the more you refine
Here’s another CBD selling tip: the price increase doesn’t plateau with drying. If you process your dried biomass into crude hemp oil, another service offered by Arbor Vita8, you can sell the resulting mixture for a little more than $334 a pound. Refine that crude oil down even further, and the price jumps to slightly more than $1,264 per pound.
Essentially, the more work you put into your hemp, the greater the profits are when you sell it. But, what do you do when you’re ready to sell?
Tips for brokers and buyers for CBD
One of your first CBD selling tips is to find a hemp broker. These are people with connections in the industry who are able to introduce you to a buyer. Brokers will ask for a percentage, so using one is always more expensive. That said, a good broker can introduce you to contacts you may never have met yourself. Often the price is worth it.
You can also work with a processor who has manufacturing connections. This is often a more reliable route. You’ve already established a trustworthy relationship with your processor as you refined your hemp. You can feel confident that the support they give you in finding the right buyer will yield the best profits.
CBD selling tips: Knowledge is power
The key to making top dollar off your hemp biomass is knowing the right CBD selling tips. It’s also understanding how to transform your hemp crop into the most lucrative product. Not only can Arbor Vita8 help with drying and processing, but our knowledgeable staff can advise you on what extractions are in demand. They can help you make an educated decision on what to do with your hemp after harvesting. Then, offer all the services to take you through the process.
For more information on our seed-to-sale array of services and second-to-none facilities and equipment, contact Arbor Vita8 today.