The difference in the prices of CBD products around the world has become more obvious in the past year. Since the coronavirus pandemic began, the demand for these products has risen significantly, and so has the production of cheap and expensive CBD products. Currently, the price difference between the least and most expensive products is about 4,715%.
The gap is too large to be overlooked, given most CBD products are often used for various medical conditions, which is why these products should be evenly priced, thereby allowing everyone to have access to them.
What is causing this huge difference in cost?
- The cultivation method used
Marijuana and hemp are the major types of cannabis plants. The former contains more than 0.3% THC while the latter has less than 0.3% THC. The price of CBD products is dependent on the type of cannabis plant cultivated.
Not every individual can grow cannabis plants that are rich in CBD. This is why the prices are usually lower in states where more individuals can grow cannabis plants that contain high levels of CBD.
- The product type
CBD can be infused into different products including oils, tinctures, creams and gummies.
CBD oil and edibles are currently the most expensive products on the market, and with the demand for CBD oils increasing, this may not change any time soon.
- How the product is packaged
Some companies invest a lot into products packaging and sales. While appealing packaging doesn’t mean that the product is the best quality, this doesn’t stop companies from adding an expensive price tag to their products.
- The method of extraction
The technique used to extract CBD from the cannabis plant may also influence the product’s price. Some techniques, including CO2 extraction, are expensive but extract high-quality CBD. However, not all companies can afford to use this extraction method for mass production, so they use more affordable methods, including ethanol and infusion extractions. Companies that use more affordable methods can sell their products at lower prices.
- The ingredients used in the product
Quality organic ingredients such as olive oil and MCT oil are sometimes used by companies to justify their expensive price tags.
It is important to keep in mind that some companies claim to make use of these ingredients but don’t actually, while others may use toxic substances to help reduce costs and maintain the lower prices at which they sell their products.
Do your own research and read a certificate of analysis before buying a product. And if you can, look for reviews and seek advice from your physician. Identifying a reputable CBD manufacturer, such as Golden Triangle Ventures Inc. (OTC: GTVH) for example, can assure you are obtaining consistently high-quality cannabidiol products that will address your needs.
NOTE TO INVESTORS: The latest news and updates relating to Golden Triangle Ventures Inc. (OTC: GTVH) are available in the company’s newsroom at https://cnw.fm/GTVH
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