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.
In the Permian basin, FOB Kermit 100m prices and 40/70m sand prices have decreased by $0.25 per ton each. In-basin sand prices have begun a downward trend, suggested by five consecutive weeks of price decreases (100m prices are down 30% in 5 weeks, and 40/70m prices are down approximately 25%), as additional supply comes online and sand vendors aim to capture market share.
In the Permian basin, FOB Kermit 100m prices and 40/70m sand prices have decreased by $0.60 per ton each. Prices have begun a downward trend as additional supply comes online and sand vendors aim to capture market share. However, the trend has been slow and gradual as proppant demand continues to recover alongside the recover in rig count and frac spread count.
In the Permian basin, FOB Kermit 100m prices and 40/70m sand prices have decreased by $0.25, $0.35 per ton each. Pricing has held relatively strong as proppant supply continues to come back online with the recovery in rig count and frac spread count.
Kenya has approved the use of genetically modified (GMO) cassava after a period of 5 years of research was completed and given the go-ahead by the National Biosafety Authority (NBA) as reported in The Business Daily.
In the Permian basin, FOB Kermit 100m prices and 40/70m sand prices have decreased by $0.50 per ton each. While our network has suggested some frac sand producers attempt to undercut competitor pricing and capture market share while ramping up sand production, there appears to be a firm collective stance that unsustainable proppant pricing hurts everyone.
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.
In the Permian basin, FOB Kermit 100m prices and 40/70m sand prices have decreased by $1.75 per ton and $1.25 respectively since last week and by $5.00 per ton and $3.00 per ton respectively since last month’s peaks, as frac sand producers attempt to undercut competitor pricing and capture market share while ramping up sand production. Northern White Odessa 40/70m sand prices have increased by $1.20 per ton relative to last week’s prices, suggesting sustained, strong pricing for Northern White mine-gate sand supply.
In the Permian basin, FOB Kermit 100m prices and 40/70m sand prices have decreased by $3.00 per ton and $2.50 respectively, as frac sand producers attempt to undercut competitor pricing and capture market share while ramping up sand production. Northern White Odessa 40/70m sand prices have increased by $1.00 per ton relative to last week’s prices, suggesting sustained, strong pricing for Northern White mine-gate sand supply.
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.