Are you trying to figure out the cost of CBD? Read this article to get the answer to your question, “How much does cannabis oil cost?”
The sales of CBD products have surged in the consumer market.
Last year, the industry grew by a whopping 706% and it’s showing no signs of slowing down. CBD oil is right at the epicenter of this boom, as it’s a preferred way of consuming CBD.
“How much does cannabis oil cost” is a simple question on many people’s minds. The answer, however, isn’t cut-and-dry. It depends on a multitude of different aspects.
Yes, it can be hard to figure out whether you’re overpaying for moments of soothing bliss. Yet, there’s no need to fret. This guide should help you navigate the choices and make educated decisions.
So, let’s get down to business and talk numbers.
Sizing Up the Average Range
CBD is an emerging industry and rules of the game aren’t ubiquitous.
Quantities that companies offer vary. You can find 15mg tinctures, 3,000mg tinctures, as well as everything in between. Loose standards and immense variety warrant caution on the part of consumers.
The first general rule of thumb is you get what you pay for. The second one is that the prices are inflated as it is. This is the product of CBD oil quickly approaching the summit of its popularity.
The good news is you can run a simple calculation to work out the optimal price for CBD oil. We’re talking about a cost for milligram equation. This is to say you have to prioritize price per quantity and set other factors (such as extra ingredients) aside for a moment.
When applied to the current market, the formula yields a wide pricing range. Namely, CBD oil goes for anywhere from $0.04 to $3.00 per milligram (mg).
When we just examine the average that captures most products, we get a $0.09 to $0.15 per mg range. That means a 300mg tincture could cost you from $30 to $120.
Quality is the King
The range narrows or extends when we look at specific brands or products.
In other words, there are many factors at play we should take into account. They allow you to assess whether the price you see is a true reflection of what is inside the bottle.
First off, quality always plays a key role. But, the million-dollar question is what it entails in practice.
Well, we would argue it’s a composite of four distinct elements:
- The potency of the oil
- Hemp sourcing origin
- Extraction method
- Testing and quality insurance
Let’s now break each of these factors down.
The potency is a measure of oil’s strength— how much CBD content it has. This attribute is expressed in milligrams.
Higher potency amplifies the therapeutic and health benefits of the product. But, if you don’t need to treat any severe symptoms, potency is not your primary concern. There’s certainly no need to squander money on products that contain CBD in spades.
For instance, those who consume CBD for general wellness can go for a 150mg tincture. On the other hand, people with chronic health conditions may want to shoot for a 1,500mg-3,000mg range.
A Matter of Extraction
Furthermore, the extraction method is a telltale sign of CBD oil’s class and quality.
The most common techniques used today are:
- CO2 extraction
- Steam distillation
- Natural solvent extraction
- Hydrocarbon extraction
These are all tried and true methods, but they aren’t created equal. Experts deem C02 extraction the most effective at pulling large concentrations of CBD from the plant. It’s also very safe.
Hence, this method tends to increase the price of oil.
Conversely, we want to warn against steam distillation. The reason is simple: there is a risk of consuming toxic residue, which can be dangerous to your health and wellbeing.
So, the lesson is clear. Refrain from buying steam-distilled oils even if their price is enticing.
Sourcing and Third-Party Testing
Next off, you need to mind the type of plant CBD oil is extracted from.
The purest and finest oils come from plants that are organic. They haven’t been treated with pesticides and are non-GMO.
Of course, organic quality bumps the price of the oil, but that’s only fair in this case. Any additional organic ingredients have the same effect.
Finally, we have to emphasize the importance of third-party testing. Reputable brands take pride in unbiased testing of their products. Third-party labs probe both their safety and potency.
Therefore, you can buy properly tested oil knowing all the claims on the label are true. It also makes sense to pay a few extra bucks for them.
Hunting for Deals
Before we conclude, you should know there are other factors that shape pricing schemes.
Most of them revolve around brand positioning and geographical location. Due to the difficulty of estimating their effect on the price, we would say you shouldn’t even bother.
Instead, keep your eyes open to various promotions, coupons, promo codes, discounts, and special deals. Some brands provide loyalty programs to attract customers.
Note that purchasing products directly from company websites is associated with lower prices. It can also enable you to get free shipping. At other times, it’s better to visit a legitimate retail store and avoid shipping costs that way.
With due diligence, you may be able to find high-potency tinctures for a relatively small price. That is the way to save money in the long run without compromising on potency. This outcome is especially beneficial to those that require a small dosage of CBD per consumption.
Armed with all this knowledge, you can get out there and get the most bang for your buck.
How Much Does Cannabis Oil Cost: Now You Know for Certain!
As you’ve seen, the question of “how much does cannabis oil cost” has different answers.
CBD market is still in its infancy, but consumer demand is skyrocketing. You want to do your homework and shop around for the best deals.
Before anything else, gauge the comparative value of CBD products in the market. Cost per milligram and product quality are your guiding lights. Moreover, make sure to factor in the extraction method, potency, sourcing, and testing credentials.
Bear in mind a cheaper price is often not worth it. You have to think about your health and safety at all times.
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