New Leaf Data Services, an independent cannabis and hemp price reporting agency and parent to Cannabis Benchmarks, is launching a new division: Hemp Benchmarks.
Hemp Benchmarks will collect, analyze and report on the wholesale price for hemp-derived biomass, dry flower, clones, seeds, crude hemp oil, refined hemp oil and CBD isolates.
The idea is to “expand its price assessments to cover additional end markets for hemp fiber and grain and begin to report on international markets as well," the company told Benzinga.
After the passage of the 2018 Farm Bill, the hemp market is poised for "massive" growth, with unprecedented interest from farmers, processors and consumers that's fueled in part by demand for CBD, said New Leaf Data Services CEO Jonathan Rubin.
"Industry participants will be seeking price transparency to analyze and navigate what we believe will be a dynamic and chaotic market, as the projected supply and demand for hemp and hemp-derived end products comes into focus over the next few years.â€
With the new hemp pricing index, New Leaf Data Services will expand its offering to include more than 80 weekly benchmarks for legal U.S. and Canadian cannabis and hemp markets.
“We expect volatile hemp and CBD markets until supply and demand reach an equilibrium,†Rubin said.
“Price reporting agencies play a critical role in managing risk associated with volatile markets, enabling buyers and sellers to transact with confidence, support fundamental analysis by investors and equity analysts, and provide definitive benchmarks for commodity traders."
Check out the first pricing index table here:
Download the full report here.
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Photo by Javier Hasse.
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