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| February 2021 Offer Prices | $ / % CBD / pound Hemp Benchmarks Market Rate | Plant Material Pounds | |||
|---|---|---|---|---|---|
| 25% Above Low | Assessed Price | Low | High | Min | Max |
| $0.31 | $0.67 | $0.25 | $1.45 | 0 | 24999 |
| $0.19 | $0.46 | $0.15 | $1.00 | 25000 | 99999 |
| $0.15 | $0.32 | $0.12 | $0.60 | 100000 | 999999 |
| $0.06 | $0.20 | $0.05 | $0.32 | 1000000 | 1000000000 |
Our Process - Testing, Weighing, How You Get Paid
Disclaimer: We don’t do fixed price contracts. We don’t do fixed rate contracts for retailers or for farmers. All contract pricing is tied to a rate based off the monthly updated market price. Above are our published rates for buying plant material for this month based on market prices.
Our Process – Testing, Weighing, How You Get Paid
We test hemp plants brought in from farmers across the country to help them determine the ideal time to harvest. Testing the plants before and throughout the process means there is no guess work. The finished CBD product we process is exactly what was expected – raw material testing ensures consistency in the quality of our product with every batch.
Pre Arrival
1) Fill out the form below
2) Send 3 samples of plant material for us to test with our inhouse HPLC, we take the average of the 3 tests. Prices are pegged at 25% above the low. Plant material prices are updated the 1st of each month, if your truck leaves the 31st and arrives on the first, new plant material prices are applied. We use a 3rd party lab to test for pesticides, heavy metals, and mycotoxins. We pay for this test ourselves to verify we know the plant material we’re about to accept is quality.
Our lab is in Oklahoma City. We have an open door policy, come visit us in person.
3) Plant material needs to be dried, shucked, and cleaned.
4) We arrange pick up and it’s insured during transportation. Farmer pays for transportation costs.
Arrival Day
We weigh each super sack as it comes off the truck. We number and take a picture of each super sack showing the scale results and make this viewable on your account. Final price is based on the weight of the plant material.
If you used our bulk bags we apply a 50% credit for each bag. We don’t provide the full 100% because we sell these at below market prices.
Day 10
You get paid 25% of the total value of your plant material, minus transportation costs, plus bulk bag reimbursement.
Day 60.
You get paid the remaining amount for your plant material.
At VB Labs, we have deep ties throughout the hemp community and have high-trust relationships with farmers. Farms in our farmer network meet our highest qualifications for potency, cleanliness, efficiency and scalability. Their commitment to quality plant material makes our distribution of CBD possible.
Example Math and Payout Schedule
You have 10,000 pounds to sell at 8% potency and will receive $0.39 per point and $3.10 per pound for $31,000 total minus $2000 trucking costs plus if you used 10 bags, you’d get a credit applied for half the cost of the bags, say you paid $30 each, then you’d receive $15 x 10 bags = $150 credit.
So Day 10 you’d receive 25% which is $7750 and Day 60 you’d receive the balance of 75% minus transportation costs and add bag credits ($23250 – $2000 + $150 = $21,400).
We look forward to receiving your quick quote inquiry.
