Report reveals positive outlook for European hemp farmers

It highlights a number of factors including the “slowdown of the COVID-19 pandemic” and “better visibility due to vaccine programmes that have been implemented across the globe” – giving farmers the confidence to invest in production machinery and materials.

According to the survey, the vast majority of hemp producers are expecting to sell more than 80 percent of their production this year, with 60 percent of participants having already pre-sold the majority of production for the year, and negotiations having already begun for the 2022 harvesting campaign.

Prices for CBD whole flowers, biomass and oil have remained stable, however, CBD, CBN and CBC isolate prices from the US have been blowing “European competition out the water”.

It goes on to highlight that the last few months have seen European isolate prices stabilise at €400-500, but that US products that are beginning to appear on the European market continue to put pressure on producers.

The report is part of Canxchange’s strategy to encourage a more transparent and efficient physical hemp market.

The report states: “The minor cannabinoid space is gaining more and more traction as CBD has become a very competitive market and experienced CBD players are looking to diversify into minor cannabinoids which are picking up in popularity.

“CBN and CBC prices remain stable as the supply and demand curve looks stable. Some US products are starting to appear in Europe putting pressure for prices on European producers.”