As the use of cannabis-based products is gaining in popularity around the world, people are starting to wonder whether they’re paying the appropriate amount of money for their high-quality CBD products. Cannabidiol (CBD) is becoming the go-to supplement for wellness aficionados who use it in topicals and creams after strenuous exercise, but it’s primarily used for its health benefits for conditions like chronic pain, epilepsy, depression, and insomnia, among others, in medical marijuana users.
While countries like Uruguay and Canada have legalized cannabis for both medical and recreational use, cannabis isn’t legal everywhere. Cannabis regulations have been changing in the United States as well with the passing of the 2018 Farm Bill.
This bill decriminalized the cultivation and use of the industrial hemp plant and CBD products. Products sold legally may only contain trace amounts of tetrahydrocannabinol (THC) up to 0.3%. Hemp products are sold in legal dispensaries in Colorado, Washington, California, and other states where the use of CBD products is legal, although CBD therapy hasn’t been approved by the FDA.
As the US CBD market is anticipated to reach $20 billion in sales by 2024, let’s get into what the cost of CBD oil is compared to THC oil.
The Cannabis Plant and its Products
One of the most used cannabis products are cannabis oil products which can either be derived from marijuana or hemp plants. Marijuana plants have a significantly higher content of THC compared to hemp plants, which only have trace amounts of THC but larger amounts of CBD.
Apart from the main cannabinoids found in the cannabis plant, like THC and CBD, it also contains other cannabinoids as well as terpenes, which give weed its unique flavor profile. Those cannabinoids, and especially CBD, are why many medical marijuana patients use CBD products instead of prescription medication as a way to treat several medical conditions.
Hemp plants and marijuana plants are used to make different cannabis products ranging from hemp seed oil to THC oil.
Common CBD products include:
- CBD oil;
- CBD gummies;
- CBD tinctures;
- CBD capsules (softgels);
- CBD topicals;
- CBD lotions.
According to US federal law, the CBD products sold in licenced dispensaries should be high quality products with THC levels under 0.3% that have been tested by third-party labs for the presence of pesticides, mold, and solvents.
Products of the Hemp Plant
Hemp Seed Oil
Hemp seed oil comes from the seeds of the Cannabis sativa plant, and as opposed to CBD oil, it doesn’t contain CBD. This type of oil contains other health benefits and consists of essential fatty acids and amino acids, used to support cardiovascular and brain health, and maybe even provide antioxidant and anti-aging effects. This type of oil is found in capsules, tinctures, or it’s used topically for skincare.
CBD oil comes from the concentrated CBD found in the flowers, stalks, and leaves of the hemp plant. It’s made by extracting the hemp extract by using different extraction processes. This type of oil has several medical benefits and can be used both topically and orally. When it comes to CBD oil, there are three main types:
- CBD Isolate;
- Full Spectrum CBD oil;
- Broad Spectrum CBD oil.
This type of CBD oil is the true CBD since it only contains cannabidiol, and it doesn’t contain other cannabinoids, terpenes, or healthy fatty acids. It’s made with the same extraction method as other CBD oils, but once the cannabinoids are extracted, the CBD is filtered out. The isolate is commonly used by people who like to vape the product, but it can also be used in crystal or powder form by applying it sublingually.
Full Spectrum CBD Oil
Full spectrum CBD oil includes all the cannabinoids that naturally occur in the cannabis plant and it’s often called a whole plant extract. When the oil goes through the cannabinoid extraction process, no cannabinoids are removed. Even though some traces of THC are left behind, this type of oil is unlikely to show up on a drug test.
The therapeutic benefits of the full spectrum CBD oil are that it provides the entourage effect which only comes from consuming all the cannabinoids that are present in the oil. A study even shows that full spectrum CBD oils have bigger medicinal properties compared to those which contain only CBD.
Broad Spectrum CBD Oil
This is the in-between oil that contains all the cannabinoids and chemical compounds apart from THC. As it contains all the cannabinoids apart from THC, it might provide users with the beneficial effects of the entourage effect. Moreover, this type of CBD oil is unlikely to show on a drug test since it doesn’t contain THC.
CBD Oil vs CBD Tincture
Another thing that’s worth the mention is the difference between oils and tinctures. CBD and other cannabinoids are extracted from the plant and infused into an oil. In CBD oils, the oil is the carrier of the CBD which can be coconut oil, hemp seed oil, olive oil, and others.
CBD tinctures, on the other hand, use alcohol as the carrier base. Cannabis is steeped in alcohol, and the mixture is put on a low heat in order for the plant compounds to infuse. After a while, the alcohol is burned off, and the plant is infused. Compared to oils, the shelf life of tinctures is longer.
Factors That Affect the Average Cost of CBD Oil Products
The price of CBD oils varies. It depends on certain factors ranging from production, to testing and marketing. Quality CBD oils generally come from organic hemp plants, are non-GMO, and are cultivated locally, since locally grown hemp tends to be less expensive than imported hemp. The potency of the product is also a vital component that defines the price of the cannabis product.
Another important factor when it comes to the price and quality of the CBD product is the extraction method. The most common method for high-quality extraction is the CO2 extraction method which is done by heating the CO2 and diffusing it through the hemp plant in order to pull the oil. If you are aiming to get the best CBD oil, this method is the way to go.
After the product is finished, CBD companies send their CBD products to third-party lab testing facilities in order for them to test the final product and check it for the presence of pesticides, mold, and solvents. Afterward, these analyses are used in labeling the product correctly. The higher the quality of the CBD oil, the higher its price.
How Much Does CBD Oil Cost Compared to THC Oil?
As we’ve mentioned previously, CBD brands base the prices of their final product on the cannabinoid content, the way in which it was cultivated, the extraction process used, as well as the quality of the product.
THC oils’ price can vary from state to state. At the time of this writing, Colorado has a price of $0.41 per milligram and Nevada has a price of $0.25 per milligram. The average cost of one milligram of CBD oil, on the other hand, is anywhere between $0.104 for full spectrum CBD oil, $0.097 for broad spectrum CBD oil, and $0.075 for Isolate CBD.
The price also varies on the amount of CBD or THC being sold, so larger amounts will have lower prices per milligram. No matter if you’re buying CBD for the first time or you’ve been using it for a while, you’ll need to set up the criteria for the product you’re buying before making your final decision and reaping the benefits of CBD.