Companies and Brands
Marijuana Price Slips 3.2% to $1,685 per Pound
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For the week ended Friday, August 12, the spot price index for a pound of cannabis decreased 3.2%, from $1,742 in the prior week to $1,685. According to the analysts at Cannabis Benchmarks, the simple average price for a gram also dropped, from $4.33 to $4.24.
The futures price for the near month (September) remained unchanged at $1,625 per pound. For the month of October, the forward price came in at $1,550 a pound. The six-month forward price (February) was $1,750.
About two-thirds of the past week’s transactions occurred in a range of $1,414 to $2,430 per pound.
Looking at prices in the futures market, the analysts had this say:
Forward market participants reported a variety of forward transactions that, in aggregate, did not change the Forward price curve. Â The market appears to have incorporated the reality that prices for old product will likely skew lower for a few more weeks, as sellers are eager to liquidate, and buyers are already looking forward to a rush of new supply, which will also be low priced but more appealing than supplies left over from last year.
Implied forward prices are now expected to reach their six-month peak in February at $1,750 a pound. The six-month low is expected to be $1,525 in November.
Our price check at MJCharts indicates prices range from $27.19 a gram to a low of $3.50 in the all-cities index. The all-cities index price is $12.34 per gram, down two cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.41, ranging from a high of $25.00 a gram to a low of $3.50. In California the price is $15.17 per gram, ranging from $27.19 down to $5.00 per gram, while in Michigan the average price is $14.04 per gram in a range of $25.00 to $5.00. In Oregon the average is $11.07 per gram in a range of $20.00 to $4.00, and in Washington the average is $10.60 per gram, ranging from a high of $21.00 to a low of $4.00.
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