Marijuana Price Up Nearly 1% to $1,669 a Pound

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For the week ended Friday, March 24, 2017, the spot price index for a pound of cannabis increased by 0.8% from $1,655 in the prior week to $1,669. According to the analysts at Cannabis Benchmarks, the simple average price for a gram increased from $3.96 to $4.13.

The futures price for the near-month (April) remained unchanged at $1,700. For the month of May, the forward price remained unchanged at $1,750. The six-month forward price (September) also was unchanged at $1,535 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,071 to $2,672 per pound.

The analysts had additional comments this week about the rise in the spot price:

The U.S. Spot Index experienced a modest gain this week, but also established a new year-to-date high price just under the $1,675 per pound threshold. The overall increase in rates was driven entirely by a nearly 3% rise in volume-weighted average pricing for warehouse flower, as rates for both greenhouse and outdoor product experienced declines. Pricing for greenhouse flower hit a new year-to-date low but is off just 1.4% from the beginning of the year.

Indoor flower prices ranged from $899 to $9,000 per pound, with the median price at $1,900. Greenhouse flower prices ranged from $900 to $3,400 per pound, and the median price was $1,355. Outdoor flower prices ranged from $800 to $2,000 per pound; the median price was $1,400.

For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.

Our price check at MJCharts indicates prices range from $21.00 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $11.05 per gram, down eight cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.99, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $13.91 per gram, ranging from $22.00 down to $11.00 per gram, while in Michigan the average price is $15.22 per gram in a range of $20.00 to $10.00. And in Oregon the average is $10.98 per gram in a range of $21.00 to $3.00. Data for Washington state were not available again this week.