Marijuana Price Rises to $1,418 a Pound, First Increase in a Month

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For the week ended Friday, November 18, the spot price index for a pound of cannabis increased by 2.3% from $1,386 in the prior week to $1,418 — the first increase in four weeks after reaching a year-to-date low last week. According to the analysts at Cannabis Benchmarks, the simple average price for a gram slipped from $3.91 to $3.88.

The futures price for the near month (December) remained unchanged at $1,525. For the month of January, the forward price also remained unchanged at $1,625 a pound. The six-month forward price (May) continued unchanged at $1,725 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,260 to $2,264 per pound .

This week the analysts commented on recent price movements:

Indoor and greenhouse product increased their share of both relative frequency of deals and relative volume week-over-week. Gains made by warehouse flower were slight, increasing just 4% and 1% in terms of transactions and weight moved, respectively. Observed deals for greenhouse product rose by 3% compared to last week, but the relative volume of such flower traded as a percent of the total more than doubled. Consequently, field-grown product’s influence on the volume weighted average shrank, but remained significant as nearly 40% of the total observed weight moved consisted of such flower.

Indoor flower spanned from $1,190 to $3,000 per pound; the median price was $1,900.

Greenhouse flower spanned from $1,245 to $2,000 per pound; the median price was $1,500.

Outdoor flower spanned from $900 to $1,800 per pound; the median price was $1,225.

Our price check at MJCharts.com 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 $12.22 per gram, down 4 cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.42, ranging from a high of $25 a gram to a low of $3.50. In California the average price is $15.27 per gram, ranging from $27.19 down to $5.00 per gram; in Michigan the average price is $13.82 per gram in a range of $25 to $5; in Oregon the average is $11.39 per gram in a range of $25 to $4; and in Washington the average is $10.61 per gram, ranging from a high of $17.00 to a low of $4.00.