Cannabidiol, popularly known as CBD, has become widely known for its many health benefits in the past few years. From managing anxiety symptoms to reducing stress and relieving pain, CBD is the new go-to natural remedy treatment.
The increasing demand for CBD products naturally led to increased production, distribution, and research. Each day new companies emerge offering multiple types of CBD oils at varying prices to stand out from their competitors. Unfortunately, this often means that buying CBD oil can be overwhelming due to a large disparity in prices. So why is CBD oil so expensive? And what causes the difference? Read more to find out.
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4 Reasons to justify why is CBD oil expensive:
The cost of growing the raw materials – the hemp or cannabis plant, means that there is a cost of farming the plant, adding to the basic cost. Extracting the CBD oil from the hemp or cannabis plant also adds to the manufacturing cost as this is a complex process, requiring labour and specialist equipment. CBD oil must also be purified as hemp plants can absorb toxins easily, the price of purifying and testing further adds to the overall cost.
Sense CBD uses sustainable farming practices in the growing process as well as utilizing a CO2-based process to extract CBD from the hemp plant. Our oils also undergo independent third-party laboratory tests.
Further, as the legality of CBD is a bit of a grey area for many countries, it must be imported from countries where it is legally grown which further adds to the costs. This limitation or exclusivity may also add to costs. Only a few companies are licensed to grow, this rarity can also add to costs as there are often taxes, regulatory and licensing fees needed due to the Government oversight required.
CBD is legal in the UK, although you should double-check current laws before purchasing. Check out our article on where to buy CBD oil in the UK, for more information.
CBD is a relatively new product which means that the price of CBD is subject to fluctuation and inflation. The high demand for the product can drive up the price. As there is not a lot of research currently available on CBD products, companies often have to do their own, which can increase costs. The high demand, coupled with difficulties in growing and producing CBD products and the extra fees required due to its legality, can further contribute to high costs for CBD products.
Although this does not mean that CBD will be expensive forever. As more countries embrace hemp and cannabis-based products, some of the costs may reduce as time goes on. Similarly, as farmers become more accustomed to the best way of manufacturing and selling CBD, the process is likely to become cheaper and easier.
The criminalisation of cannabis in the past has contributed to a reputation that can make CBD products harder to sell. The stigma associated with marijuana may wrongly cause some people to believe that they are the same product, although they are not. This can also mean that CBD products are in higher demand on the black market as people do not feel they can legally obtain the products, which further drives up prices. If larger companies shy away from stocking CBD products, it can mean that these distribution costs fall on smaller businesses, such as in shipping, which further increases the price of their products for customers.
What’s the difference between cheap and expensive CBD oils?
Cheap CBD oils likely do not go through proper purifying, testing and quality control procedures, which means they may not be very safe for consumers. The raw materials used in these products may be substandard, the quality of the CBD may not be very good and some have been found to not even contain any CBD at all. Some companies may also try to mislead consumers by selling hemp seed oil but claiming it as CBD oil. These products are different and hemp seed oil does not have the same benefits as CBD, which can account for its higher price. See our article on the difference between CBD oil and hemp seed oil, for more information.
Whereas, more expensive CBD oils have likely gone through proper processing, have safely and responsibly been manufactured, they are made with good quality plants and imported from reputable sources. Due to their thorough lab testing, they are guaranteed to not contain any impurities so will be better for you.
Should you be paying a high amount for CBD?
The manufacturing, production and importation costs of obtaining CBD oil can account for its seemingly high costs. Although over time we can expect the price of CBD products to become more affordable for everyone.
To make sure you are getting the best quality CBD for your money, make sure to look at the company’s credentials and manufacturing processes – is it grown abroad or locally? How is it processed? Is it lab tested? Is it a legal product?
Hopefully, by understanding a bit more about the production costs of high-quality, pure CBD oil, you can now better see why CBD may be so expensive. Paying a bit more is worth the trouble you may experience when using low-quality and cheap CBD products.
Frequently Asked Questions:
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CBD oil is much more costly to make than hemp seed oil. This is the reason it is going to cost you more...
The reason for CBD's steep price is due to various reasons such as the novelty of CBD, the difficulties in cultivating and making CBD, as well as the numerous fees distributors and growers, have to pay.
The current production process is hindered by the difficulty in extracting CBD crude from hemp biomass. Only a few processors are equipped to extract hemp biomass. Due to a shortage of processors, the actual cost of extracting hemp biomass is high.
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Disclaimer: Despite the general safety of CBD products, minimal side effects can occur, especially at the first use. Contact your medical professional for advice.