If you have read about the potential health benefits of CBD oils, you may be considering buying hemp extract. If you are in the market to purchase CBD products to resell or you want to use them for personal use, knowing the cost of CBD oil will help your decision-making process.
The price of CBD oil is more complicated than you think it is. There are various CBD products on the market with different prices, making it challenging for buyers to choose the right product. You may ask, “why are some CBD oils more expensive than others?”. The truth is that many factors influence the cost of CBD oil. Manufacturers consider factors such as the source of hemp, potency of ingredients, cost of labor, manufacturing and extraction method, and many more while pricing their products.
The Food and Drug Administration (FDA) doesn’t regulate the labeling and manufacturing process of hemp-derived products; it is the manufacturer’s role to ensure their potency, quality, and safety. Most CBD products claim to relieve different health problems at a bargain price. This explains why CBD is a trending topic on the internet right now.
The price of CBD oils could be anywhere between $9 to $420. It’s no wonder why CBD is a popular product in the health and supplement industry. If you are looking to find the cost of CBD, we will leave no stone unturned as we break down the cost of CBD products for you in this post.
Table of Contents
What is CBD Oil?
CBD oil, also called cannabidiol oil, is an oil that is obtained from the cannabis plant. It is an active agent found in cannabis, not psychoactive. CBD (Cannabidiol) is one of the 100 chemical compounds called cannabinoids in the cannabis plant. It has numerous applications in the medical world for remedying many common ailments.
In contrast to tetrahydrocannabinol (THC), the primary psychoactive cannabinoid found in cannabis, CBD is not psychoactive. This makes CBD a great choice for those seeking to relieve pain and other ailments without the side effects of cannabis or other side effects related to some pharmaceutical drugs.
CBD oil is made by taking CBD from cannabis Sativa and mixing it with a carrier oil like coconut oil or hemp seed oil. CBD is present in many online and in-store products, including drinks, bath soaps, dietary supplements, and food.
What is the Cost of CBD Oil?
If you’re familiar with CBD products, you must have noticed that the prices of CBD oils aren’t consistent. CBD prices aren’t consistent but fluctuate depending on the brand itself or the milligram (mg) being sold. Also, CBD oil can differ from company to company, even when the milligrams (mg) are the same and they seem to sell the same product.
On average, CBD oil prices can range from as little as $0.07 to $0.10 per mg to as much as $0.36 per mg. CBD topicals range in price from $0.12 to $0.19 per milligram. These may be found in many sizes, from 1 oz to 4 oz bottles, and contain as much as 1000 mg of CBD.
Although it is difficult to ascertain the exact price of CBD oil due to factors like location, having to total the various factors that influence the price, like production cost (organic farming, clean extraction methods, and third-party testing), additional ingredients, labor, and brand reputation, it is logical that the price of CBD pills won’t be low.
There are lots of reasons to back up this discrepancy. First, the CBD company could use high-absorption CBD or a proprietary formula to provide targeted relief. Another common reason could be greedy and exploitative manufacturers hoping to capitalize on consumer naivety and ignorance.
How to Figure Out CBD Cost Per Milligram?
There is a simple way to ascertain the cost of CBD oil. With this, you can compare to other CBD products on the market and decide whether its price is low, competitive, or exorbitant. Figuring out the price of CBD can be broken down to the number of milligrams of CBD you’re buying.
If you know how much something costs per milligram, you can figure out how much it costs per serving for an individual and how much CBD oil costs per round or kilo for a business. Forget about the product features, size, ingredients, etc. but look at the milligram you are paying for.
The average cost of CBD oil per milligram ranges between $0.04/milligram for the low-end and $3.25/milligram for the high-end.
Why Are Some CBD Oils More Expensive Than Others?
The overall process of growing herbs, extracting, and testing them in the tab can be expensive, which is why CBD oils are costly. If you can find a high-quality and effective CBD product, expect an improvement in your life. However, if the CBD company cuts corners, you will not get value for your money. Instead, you will end up losing your hard-earned money.
The manufacturer needs to maintain the source of hemp for their extracts. They need to use safe extraction processes and employ qualified, knowledgeable, and well-informed workers who can use the equipment. Ultimately, the manufacturer needs to invest in a third-party lab facility to verify their products are completely safe for consumption.
As you can see, a lot of resources and money go into the entire process of extracting and producing CBD oils. It is extremely difficult for a company to sell high-quality CBD oil for a ridiculously low price. Surely, they’ll be running at a terrible loss if they do such!
Notwithstanding, some companies overprice their product. While you keep that in cognizance, take a look at their quality.
Why Is The Quality of CBD Oil Important?
CBD products are relatively new on the market, and their production standards and labeling are unregulated. Epidiolex is the only CBD-based drug approved by the FDA, and they have refused to acknowledge the hemp-derived CBD drug as a medicine.
Consequently, hemp-derived CBD oils have been listed with other products in the health market. So, CBD manufacturers can make big claims about their products and sell CBD oils containing little or no CBD to naive buyers. Most times, some CBD products may contain potentially dangerous mixtures and chemicals like pesticides, solvents, and mycotoxins.
In 2018, for instance, the Center for Disease Control (CDC) reported 52 different cases of poisoning in Utah. On investigation, it was discovered that it was caused by incorrectly labeled products. Some CBD products are of “cheap quality,” so when purchasing a CBD oil to use or sell, make sure you do concrete research on the product or the company behind it.
What Influences CBD Oil Price?
Although many factors contribute to the pricing of CBD oil price, the quality of ingredients is the main factor that impacts the overall cost of CBD oil.
Here are some of the factors that make a quality CBD product;
- The hemp source.
- Extraction method.
- Third-party testing.
- The product’s formula.
Premium CBD oil costs a bit higher than the regular market value because of the rigorous quality procedures involved in the manufacturing process.
But on the other hand, when you buy from a premium brand, you can take advantage of discounts, bulk pricing, and special reward programs to make their products more affordable.
Let’s see how different factors affect the price of CBD oil.
1. Hemp Source
The source of hemp the CBD oil extracted from is one of the main factors affecting the quality of the final product. CBD oils sourced from organic, pesticide-free, and non-GMO hemp are usually the best.
Organic farming is more expensive than mass production because you can’t use pesticides or growth boosters. Organic agriculture helps ensure the high purity of the sourced material, making it richer in CBD and other active compounds. Consequently, organic hemp is more expensive to use.
2. Extraction Method
Different methods can be used to extract CBD from hemp plants. From steam distillation to natural solvent extraction, hydrocarbons, and CO2. The best method is CO2 extraction. CO2 extraction maintains the integrity of as many phytocannabinoids and terpenes as possible. It generates high concentrations of CBD from the plant without hurting the environment or leaving behind toxic solvents.
Products made with alcohol, olive oil, or butane are cheaper than those made with CO2. A CO2 extraction machine can cost between $135,000 – $150,000, which translates into a higher final price of CBD oil.
The cheapest extraction method involves the use of hydrocarbon solvents. As a downside, they’re potentially dangerous for both the manufacturer and the user. This type of extraction method should be avoided.
The amount of CBD in the bottle, measured in milligrams, is what is meant by “the potency of CBD.” Even though products with higher concentrations of CBD cost more, they are worth more. The stronger your CBD oil is, the more likely it is to help with your symptoms.
For example, a person taking CBD for general wellness may find a 150 mg oil beneficial, whereas someone with severe symptoms may need more CBD (e.g., 600 mg or 1000 mg) to start feeling better.
High-potency oils are also suitable for people who weigh more or know how much CBD they need and want to keep enough on hand for a few months.
4. Third-Party Testing
Recognized and reputable CBD brands interested in raising the quality standards in the industry use independent laboratories to test their products for potency and purity.
These labs will check how potent CBD is and look for chemicals that could be dangerous in the oil. Testing oils in a third-party lab usually adds to the price, but it is essential to know how much CBD is in your oil and if it has any other substances that could be bad for you.
Companies selling CBD should make their products’ certificates available to the public or let people ask for them.
Other Factors That Can Affect the Cost of CBD Oil
The price tag of CBD oil also includes the brand’s reputation. This means that the brand’s reputation is also often a factor in how much CBD oil costs. When you buy from a high-quality company with a good name, you may have to pay a little bit more for its goods.
However, when you purchase from top-of-the-line brands, many advantages accrue with it. There are also other benefits, like reward programs, special subscription deals, and more, in addition to the fact that quality is guaranteed.
They also use environmentally friendly ways to extract CBD, test the quality very carefully, and have customer service to help you choose the right products and answer any questions about CBD.
CBD oil will cost you a different amount depending on where you buy it. Assuming you live in a place where cannabis is legal, all you have to do is find the closest dispensary, vape shop, or pharmacy to get quality CBD.
Most of the time, products found over the counter in local shops are usually more expensive than those found online due to extra operational costs store owners must cover.
Buying CBD online directly from a brand will cut out the middleman while retaining the advantages of the aforementioned discounted products.
Frequently Asked Questions (FAQs)
What is the Cost of CBD Oil?
On average, high-quality drops you put under your tongue cost between $0.09 and $0.17. An mg of oil costs $0.05 at the low end, but some oils cost more than $20 mg per mg. Sometimes, high-potency CBD oils will be cheaper per mg than low-potency hemp extracts.
What is the Cost of CBD Capsules?
CBD capsules come in different potencies. However, 10 mg and 25 mg are the most common ones on the market. On average, CBD capsules cost $0.09–$0.13 per mg.
What is the Cost of CBD Gummies?
CBD gummies cost about the same as CBD capsules. They also range from 10 to 50 mg of CBD per gummy, costing between $0.09 and $0.020 per mg of CBD. The most common size for CBD gummies is a 30-count bottle. Some companies may sell their gummies in 60-count or even 120-count bottles.
How Much Do CBD Tropicals Cost?
CBD topicals include creams, gels, salves, and lotions. They are formulated to provide healing and relief and healing from physical discomfort. On the low end, CBD tropicals can cost anywhere between $0.07 to $0.10 per milligram and over $0.36 on the high end. However, the average cost of CBD tropicals is between $0.12 to $0.19 per milligram.
The production process for CBD oil is expensive. CBD oil is not synonymous with being cheap. It would be illogical for companies to sell high-quality products at a loss. Any brand or company that claims to sell high-quality CBD oil at low prices should be investigated immediately.
Many companies make low-quality goods that are mislabeled to take advantage of customers who don’t know what they’re buying and the lack of rules.