Despite the wildfires, smoke and drought conditions ravaging forests, grassland and farmland across the western United States this summer, hemp biomass pricing ranges have held relatively steady nationwide. This is testament to the fact that despite a substantial drop in licensed acres as well as preliminary estimates of total planted acres this year, the market is still heavily oversupplied and is easily able to buffer major supply shocks such as natural disasters.
May Survey Results
The biomass pricing range has held steady across much of the United States. Colorado, Oregon and Kentucky, and much of the midwest remain range-bound between $0.20-$0.30 per point of CBD. There are premiums to be had, however, as potent, clean, and well-prepped biomass is claiming the upper half of the trading range, with a few lots trading higher up to $0.35 per point of CBD.
PanXchange® Hemp: Benchmarks & Analysis – May 2021
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East Africa Update
Flour Prices Fall On Reduced Cost Of Maize Grain
As the maize price in Kenya continues to fall, the price of maize flour has also seen a reduction at shelves with a 2kg packet now quoted at KES 106. Millers are now receiving maize at KES 2,700 per 90 kg bag compared to KES 2,800 per 90 kg bag in the previous two months but millers are still not receiving sufficient supply according to The Business Daily. More stocks are expected to be made available from next month from a short crop in the South Rift and also the new crop coming in from Uganda.
In the Northern White market, prices fell by approximately 1% this week across all mesh sizes (100m, 40/70m and 30/50m) to historical lows.
Bread Price To Jump KES 6 On Tax Plan
As the Kenyan government is ready to implement a 16% VAT on bread, bakers have signaled a rise in a loaf by KES 6 as this would increase the cost of production and leave companies no choice but to transfer this extra cost onto the consumer.