You might be overpaying for CBD, and there’s no reason why – NJ.com

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CBD shoppers trying to avoid the cheap stuff for quality products might be paying inflated prices for no reason, a recent report found.

The analysis from Leafreport, an organization focused on transparency in the CBD industry, found a 3200% price discrepancy between some of the least and most expensive products — but they also found no reason for the differences.

“There was a lot of discrepancies,” said Noa Givony, Leafreport’s head of product. “The conclusion that we got to is that it’s probably all the brands just want to make money. There’s no real reason that they should be such a discrepancy in prices.”

CBD, short for cannabidiol, is federally legal when derived from hemp, marijuana’s mild cousin. It will not make a user high, but many swear by it to treat inflammation or anxiety.

From gas stations to yoga studios, CBD is easy to find. But it remains largely unregulated, and the U.S. Food and Drug Administration has said it is illegal to add to food and drinks. Officials also say they do not yet know if the products are safe.

That leaves consumers weeding through an unchecked market. Advice on how to shop for the best CBD varies, but some say any cheap bottle should raise suspicion. Now, it seems, the pricier products may not be any more reliable.

The report concentrated on 53 leading brands in the U.S. market, both small and large retailers. Ultimately, researchers looked at around 3,500 products, including gummies, capsules, pet treats, vaporizes and topicals.

They hope the findings will help consumers navigate the massive offerings, organizing products by type, price and potency.

Givony said they examined a company’s USDA certification status, manufacturing processes and third party testing policies to try to explain the price discrepancies, but could not find a direct relationship between those aspects and price point.

They broke the products into three groups, a bargain one where CBD cost $0.01 to $0.79 per mg, market rate where prices range from $0.08 to $.149 per mg and those above $.15 per mg.

Until there’s regulation surrounding the manufacturing and sale of CBD, the price issues are unlikely to get resolved.

“It was really groundbreaking for us that there is no real reason for the changes and the gaps,” she said.

A version of this story originally appeared in NJ Cannabis Insider.

Amanda Hoover can be reached at ahoover@njadvancemedia.com. Follow her on Twitter @amandahoovernj. Find NJ.com on Facebook.

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Source: https://www.nj.com/marijuana/2020/02/you-might-be-overpaying-for-cbd-and-theres-no-reason-why.html


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