In the Permian, FOB Kermit 100m and FOB Kermit 40/70m prices rose by $1.50 each. We have heard chatter that although there is some hesitancy on quality relative to price of in-basin 40/70m sand, supply is still tight.
Northern White FOB Odessa 40/70m and 40/70m mine gate prices each rose by $1.50/ton this week, suggesting limited increase in consumption in the Permian. 100m and 30/50m mine gate prices remained relatively stable, suggesting continued, limited demand.
In the Northern White market, prices across the board continue to decline, suggesting continued, limited demand relative to local supply in the Permian.
Hemp buyers and sellers face a number of challenges, some are the result of prior regulatory concerns and some are just normal for new commodities. Julie Lerner has made a career creating commodity exchanges is now focused on hemp. She speaks to Joy Beckerman about PanXchange’s Hemp Commodity Trading Platform and their Hemp Benchmark & Analysis.
Hemp prices have fallen some 80 percent since summer highs as the industry works through a glut of the crop. And while tumbling prices could be a boon for consumers in search of affordable hemp and CBD products, they bode poorly for farmers and businesses that have staked their futures on the burgeoning industry.
In the Northern White market, 100m and 30/50m prices fell by 1.5%, while 40/70m prices rose by 3%. This suggests that Northern White prices are levelling off after new year’s optimism.
Federal agriculture officials have introduced two crop insurance programs for hemp, both designed to protect farmers growing the new commodity from damage during natural disasters.
It’s an overcast January day on his farm in west Kentucky, where he grew 18 acres of hemp last year, investing more than $250,000 of his own cash. He’s one of nearly 1,000 licensed hemp growers in 2019 who helped grow Kentucky’s biggest hemp crop since the state reintroduced it, trying to cash in on what could be a $1 billion industry for CBD products made from hemp.
NEW YORK — It may not be apparent when you’re spending $70 on CBD foot cream, but hemp prices are plunging amid a “grossly oversupplied” market, according to the head of the industry’s first price provider.
Ohio Valley farmers planted more than 27,000 acres of hemp last year — about four times more than in 2018 — to cash in on a booming market for popular CBD products made from the crop.