CBD oil is a popular product millions of Americans have already tried and included in their daily routines. If you want to try it and buy your first CBD product or build a CBD brand and stock up on CBD oil products, you will want to know its price.
Not all CBD oil products cost the same, and you might have already noticed that the same amount of CBD oil from some brands is much more expensive than from others. The price difference across products can make choosing a CBD product challenging; that's why we have gathered all the aspects below that impact CBD oil's price and will help you determine how much you should be paying for your CBD product.
The Price of CBD Per MG
CBD oil and tinctures contain varying CBD amounts per serving and bottle. The average cost of CBD ranges between $0.05 to $0.20 per mg. To determine how much one mg CBD in CBD oil costs, divide its price by the total CBD amount in the bottle. For instance, New Haven Natural's CBD tincture costs $69,95 and contains 900mg CBD. 69,95 divided by 900 equals 0,07, meaning that each mg of our CBD costs $0,07. If CBD per mg costs more than $0.20, then it's overpriced.
As an example, Populum full spectrum CBD tincture features only 250mg CBD per bottle, and its price for a one-time purchase is $59, which makes the price per mg CBD $0.23. That's more than what you should be paying for CBD oil, especially when it's not USDA-certified organic, but we'll dive deeper into the aspects that affect CBD's price below.
Factors that Influence CBD's Price
Source of CBD
CBD derives from hemp – a non-psychoactive cousin plant to marijuana. All CBD sold online and at stores is primarily derived from hemp, but hemp plants themselves differ in quality and are acquired from different sources. For instance, many brands use imported hemp for their products. Foreign hemp is much cheaper than U.S.-grown hemp, so unsurprisingly, such products can cost less than those made from local hemp.
With cheaper alternatives to expensive CBD products, you might wonder why you should pay more for CBD and how these products differ in terms of quality.
If it grows in contaminated land, hemp will drive up all harmful ingredients from the soil, thus healing the ground but contaminating itself. Such hemp will feature harmful elements like heavy metals and molds. Moreover, if farmers grow hemp using pesticides, they will also end up in CBD extract. The problem with foreign hemp is that they usually come from unknown sources and grow without strict farming regulations. The U.S.-grown hemp is higher in quality as USDA oversees hemp production in the U.S. and has set strict guidelines for hemp farmers.
For instance, at New Haven Naturals, we use top-grade hemp for our products grown in organic, nutrient-rich soil in the United States. The hemp we use is USDA Certified Organic by QAI that meets the organic standards and grows under strict farming regulations without using pesticides in pure, uncontaminated soil. Such hemp costs much more than imported hemp, so while each mg of our CBD costs $0.07, some might cost cheaper when derived from foreign hemp.
Another aspect that can significantly affect CBD's price is the extraction method. CBD brands acquire CBD from hemp using two primary ways – solvent extraction and CO2 extraction.
Solvent extraction is cheaper; thus, CBD acquired through this method might be less expensive. However, the downside of solvent extraction is that it might leave a toxic residue in the extract and degrade cannabinoids in the process, providing less potent CBD extract. Even after refining the CBD extract acquired through solvent extraction, residual solvents may remain in CBD. That's why premium brands choose the CO2 extraction method. Because the process is more expensive, they need to invest more funds in acquiring CBD; therefore, their costs of production increase. However, CBD extract obtained through this method is more potent and a much safer choice.
Third-Party Lab Testing
Before premium brands make their products available for sale, they third-party lab test each batch of their products to confirm the potency and purity of a product. Others, who cut corners in the production, don't test their products and sell CBD without proof of being pure or effective.
Companies that test their CBD oil have to invest quite a lot in this step. Independent labs charge a lot for each product they analyze; thus, third-party lab-tested products can be more expensive. The reason to pay more for these products is that the CBD market is pretty unregulated. A study in 2017 found that 70% of CBD products were mislabeled. The only way to ensure you're buying a quality CBD product with no unwanted ingredients is to check third-party lab test results.
At New Haven Naturals, we are transparent about our CBD oil and test every batch of our CBD oil tincture to ensure its purity and quality. Lab test results are conveniently available to our customers online.
The price of CBD products significantly depends on the ingredients they use, such as the carrier oil. Some of them might cost cheaper but not be of the highest quality. At New Haven Naturals, we use only organic ingredients such as organic MCT oil, with no filler oils, and made from premium coconuts. Organic carrier oils cost more, so CBD oil with high-quality ingredients will cost more.
USDA-certified Organic CBD products are safe, effective, and combine premium-grade ingredients, which cost more than traditional ones. CBD products need to undergo specific production methods and feature only premium ingredients to obtain USDA organic certification. These methods and organic ingredients cost more than cheaper alternatives. Companies also have to pay a fee to obtain certification so that USDA-certified CBD products can cost more than traditional ones. However, not all expensive CBD products are USDA-certified organic. Populum CBD we mentioned earlier in the article, which costs $0.23 per mg of CBD, compared to our USDA organic CBD for $0.07 per mg, is neither USDA-certified organic nor features organic ingredients.
Feals is another brand selling non-USDA-certified CBD with non-organic ingredients and still charges more than we do for USDA-certified CBD oil. Their CBD costs $0.08 per mg when you buy oil with 600mg potency per bottle, $0.078 when you buy 1200mg CBD, or $0.71 when you buy 2400 mg CBD. So, sometimes, the reason for the high price of CBD might be unclear, but often, the production methods and the quality of a product and ingredients in it play a crucial role in a product's price.
If you want to know more about what to look for in CBD products to make a wise selection, read our article on what to look for when buying CBD.
Are You Searching for a Cost-Effective CBD Product? Try Premium CBD Oil at New Haven Naturals!
Our CBD is:
- Full Spectrum
- USDA Certified Organic
- Vegan and Keto Friendly
- Third-party lab tested
- Backed up by a 30-day money-back guarantee.
Our clean-tasting easy lime CBD tincture combines only the premium organic ingredients and is third-party lab tested to ensure its quality. When searching for cost-effective CBD products, look no further! Order our premium CBD tincture and experience the desired results from the combination of top-grade, pure, and beneficial ingredients.