Marijuana Price Rises 2% to $1,578 a Pound

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For the week ended Friday, June 23, 2017, the spot price index for a pound of cannabis rose 2.3% to $1,578. According to the analysts at Cannabis Benchmarks, the simple average price for a gram was unchanged at $3.99.

The futures price for the near-month (July) remained unchanged at $1,525. For the month of August, the forward price was unchanged at $1,510. The six-month forward price (December) was also unchanged at $1,465.

About two-thirds of the past week’s transactions occurred in a range of $1,143 to $2,479 per pound.

The Cannabis Benchmark analysts commented on spot prices over the first half of 2017:

While the average wholesale price [was] highest in April in 2017, the highest monthly rate observed in 2016 was $2,059, in May, with the weekly peak price for 2016 occurring late that month as well. So far this year, the highest weekly U.S. Spot price was observed in the week ending March 31st, at $1,682 per pound, roughly two months ahead of when 2016’s peak rate was documented. With the summer’s first round of light-deprivation harvests likely to take place in the coming weeks, it is conceivable that the 2017 peak of the U.S. Spot Index is already behind us, as sun-grown supplies should only increase over the course of remainder of the year.

Indoor flower prices ranged from $999 to $6,250 per pound, with a median price of $2,050. Greenhouse flower prices ranged from $800 to $3,350 per pound, and the median price was $1,305. Outdoor flower prices ranged from $700 to $1,800 per pound; the median price was $1,200.

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 $20.00 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $11.13 per gram, down a penny compared with the prior week. The overall average price for a gram of marijuana (all strains) in Arizona is currently $9.34, ranging from a high of $15.00 a gram to a low of $6.00. In California the average price is $13.81 per gram, ranging from $15.00 down to $11.00 per gram. And in Oregon the average is $11.11 per gram in a range of $20.00 to $3.00.