We’ve all heard the scary headlines about that frightful word, inflation. Yikes! Inflation is hitting hard and taking many products with it. What does this mean for some of your favorite products? Prices are crazy all over the place, and CBD is no exception. As a matter of fact, CBD has seen some crazy price fluctuations. Why is that? Let’s take a look at some of the factors driving up CBD prices.
Cost Discrepancies
Many CBD lovers have discovered that since CBD’s popularity has risen, prices have gone up. More people are noticing a large cost discrepancy from the lowest cost products to the highest-priced ones. According to Leafreport, there is a whopping 4718% difference between the least and most expensive products. What? Yes, as unbelievable as it might seem, it’s true.
Factors Affecting Costs
You’re probably now asking, “What’s driving these fluctuations?” Several factors affect costs, including ingredients. For example, higher costs for some products are linked to manufacturers using higher-quality ingredients. Prices among different brands also vary, meaning some products are going to be more expensive than others. The type of CBD also plays a role, where isolates tend to be more affordable than other types. Cultivation practices, production processes, and labor costs also play a critical role. Since so much work goes into bringing your favorite products to the shelves, these factors affect the price.
Prices Down Overall
Despite these price fluctuations, we should note that CBD prices overall have decreased by 11.25% since last year. One of the main reasons for a decrease in prices is that CBD extract is more prevalent. As a result, more people can get their hands on CBD products.
Quality Products, Competitive Pricing
Even though the cost of a product is a consideration for many people, you can always count on Green Leaf for competitive pricing. We offer premium products at prices that can fit any budget without ever compromising on quality. At Green Leaf, you can meet all your CBD needs, so browse our products to learn more.
Source: https://www.leafreport.com/education/cbd-pricing-new-leafreport-research-reveals-a-massive-4718-price-difference-between-the-cheapest-and-most-expensive-cbd-brands-but-overall-cbd-prices-are-decreasing-11093