Hemp Specifications

Updated April 2020

Hemp Biomass

Hemp Biomass is priced by the content of CBD per pound. A pound of biomass containing 10% CBD at $1/point costs $10. PPP (Percentage Point/Pound) is also used in Hemp Bulletin commentary.

There are no universal standards for moisture content and foreign matter, but 10% or lower crop moisture and less than .1% foreign matter is typical. Foreign matter is subjective at this stage of industry development; some lots may contain more large stems while others have been bucked more thoroughly. Some processors use scheduled discounts for drying crop to their specification, generally under 10%, while a select few extract wet material.

Biomass is sold loose in super sacks, baled and wrapped, or in pelleted form, based on the processor’s requirements. Homogenization insures consistent cannabinoid content throughout a lot. There are subjective attributes that are difficult to characterize in published standards. This includes appearance/color, and “nose” – an indication of terpene content. April 2020

Organic Hemp Biomass

Same as Hemp Biomass, with certified organic designation. April 2020

Crude Hemp Extract

Crude Hemp Extract (CBD Oil) is priced in the Hemp Bulletin by the kilogram. This viscous, liquid product is priced here by the kilogram, though “liter” is often used colloquially to represent 1 kilogram. The two are not technically interchangeable, with the typical liter of extract weighing ~900 grams. Crude extract typically contains 58-68% CBD content, including the full spectrum of cannabinoids, phytonutrients, terpenes, plant waxes and lipids. The Jacobsen’s published prices reflect trades on 60-65% CBD content.

Crude Hemp Extract is commonly winterized and decarboxylated. Winterization removes plant lipids and waxes; decarboxylation uses temperature to activate cannabinoids, converting them from the acid form to a bioavailable form. Crude Hemp Extract may contain as much as 3% THC; non-compliant for retail markets. Crude Hemp Extract is the primary hemp extract and can be further refined into distillates or isolate. Crude Hemp Extract is most commonly produced using CO2 or ethanol. April 2020

Crude Hemp Extract (Premium)

Same as Crude Hemp Extract, but reported pricing reflects a number of premiums we are currently aggregating. These premiums include GMP and ISO certifications, but some transactions in this category may include operations that are self-certified, using GMP’s. This will likely evolve to include only certified facilities, but we are reporting on the current market practices of the rapidly evolving industry. This category includes certified organic designation, which indicates certified organic biomass was utilized for feedstock and certified organic ethanol or CO2 was used in the extraction process. CBD content published pricing is 62%-70%. April 2020

Full-Spectrum Distillate

Full-Spectrum Distillate is the first stage of the refinement process for crude extract. CBD content for The Jacobsen’s published pricing is 78%-85%. No additional additives, such as “spiking” with isolate. This viscous, liquid product is priced here by the kilogram, though “liter” is often used colloquially to represent 1 kilogram. The two are not interchangeable, with the typical liter of extract weighing ~900 grams. The distillation process can target any molecule for exclusion and create a range of novel products. Full-Spectrum Distillate generally contains a full profile of cannabinoids and terpenes but most waste products have been removed, resulting in a refined extract with an amber color. April 2020

Full-Spectrum Distillate (Premium)

Same as Full-Spectrum Distillate, but reported pricing reflects a number of premiums we are currently aggregating. These premiums include GMP or ISO certifications, but some transactions in this category may include facilities that are self-certified, using GMP practices. This will likely evolve to include only certified facilities, but we are reporting on the current practices of the rapidly evolving market. This category includes certified organic designation, which indicates certified organic biomass was utilized for feedstock and certified organic ethanol or CO2 is used in the primary extraction process. CBD content published pricing is 80%- 88%. April 2020

Broad-Spectrum NDT Distillate

This product has been remediated to render THC levels non-detectable, or NDT. CBD content for our published pricing is 80%- 88%, and product contains a diverse cannabinoid profile with terpenes, but waste products have been removed, resulting in a refined extract with an amber color. No additional additives, such as “spiking” with isolate. This viscous, liquid product is priced here by the kilogram, though “liter” is often used in the marketplace colloquially to represent 1 kilogram. The two are not interchangeable, with the typical liter of extract weighing ~900 grams. As with any distillate, refiners can target molecules for exclusion, and create a range of novel extracts. NDT products may contain variable trace THC content. Different methods employed in laboratory analysis can return different results. These products may be marketed as “T-Free”. Based on current lab practices, THC content will vary, but will be compliant. Remediating THC is a time-consuming process, adding a significant price premium to full-spectrum products. April 2020

Broad-Spectrum NDT Distillate (Premium)

Same as Broad-Spectrum NDT Distillate but reported pricing reflects a number of premiums we are currently aggregating. These premiums include GMP and ISO certifications, but some transactions in this category may include operations that are self-certified, using GMP practices. This will likely evolve to include only certified facilities, but we are reporting on the current market practices of a rapidly evolving industry. This category includes certified organic designation, which indicates certified organic biomass was utilized for feedstock and certified organic ethanol or CO2 was used in the primary extraction process. CBD content for published pricing is 89%-94%. April 2020

CBD Isolate

Isolate is pure CBD, white powder or crystals, containing 99%+ cannabidiol.

Isolate is priced by the kilogram, and our published price reflects a minimum of 99% CBD content. Isolate contains no THC or any other cannabinoids. April 2020

CBD Isolate (Premium)

Same as CBD Isolate but includes manufacturing premiums. These premiums include GMP or ISO certifications, but some transactions in this category may include facilities that are self-certified, using GMP practices. This will likely evolve to include only certified facilities, but we are reporting on the current practices of the rapidly evolving market. April 2020

Hemp Flower

Hemp flower is priced by the pound. The Jacobsen’s published pricing is for bucked, machine trimmed, mold free, bright green flower with a minimum 10% CBD content, below 13% moisture content. Product may be quick dried but retains a desirable terpene profile or “nose”, with abundant trichomes. Slow dried and cured flower will be represented at the top end of our published price range. April 2020

Organic Hemp Flower

Same as Hemp Flower, but with certified organic designation. April 2020

Hempseed Grain

Hempseed is priced by the pound. Hemp seed is particularly volatile and must be aerated within hours of harvest. The following table lists specifications for hempseed: April 2020

Minimum seed size 2mm
Moisture content <9.0%
Purity >99.5%
Yellow meats after hulling <2.0%
Orange or brown meats after hulling 0%
Sclerotinia <.1%
Evidence of rodent infestation: feces, feeding None
THC <10ppm
Gluten < 20 ppm
Peroxide < 2.0 meq/kg
Aerobic Colony Count (ACC) ≤ 100,000 CFU/g4
Coliforms ≤ 1000 CFU/g
Yeasts and Mold ≤ 1000 CFU/g
E. Coli NDT (<10)
Salmonella NDT (<10)
Herbicide/Pesticide Screen NDT

Organic Hempseed Grain

Same as conventional Hempseed but includes certified organic designation. April 2020

Hemp Fiber

Raw Hemp Fiber is priced in the Hemp Bulletin by the pound; transactions are also priced by the ton in the market. Hemp is field retted for 2 weeks to break down the bond between bast fiber and hurd, and resulting straw is baled dry to specifications of buyer, typically in the 12%-14% range. Price ranges reflect quality and geography. Transportation is costly; delivery to the processors dock is at the top end of the pricing range.

Fiber specifications will evolve rapidly as new products are developed. Fiber markets will initially consist of feedstock for composite lumber, non-woven textiles, and hurd for animal bedding. As hurd trading volume increases, The Jacobsen may add this pricing to the Hemp Bulletin. The US currently lacks essential infrastructure and expertise for producing long-strand bast fiber for woven textiles. Specifications are different for various product applications, particularly hemp used for composite lumber, which is not decorticated.

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