Marijuana Price Rises to $1,623 a Pound
The wholesale spot price for a pound of marijuana rose almost 3% last week to $1,623. The wholesale price for a gram rose to $4.23.
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For the week ended Friday, May 19, 2017, the spot price index for a pound of cannabis rose 2.8% from $1,579 a pound to $1,623. According to the analysts at Cannabis Benchmarks, the simple average price for a gram rose 29 cents to $4.32.
The futures price for the near-month (June) was unchanged at $1,680. For the month of July, the forward price remained unchanged at $1,600. The six-month forward price (November) was also unchanged at $1,365.
About two-thirds of the past week’s transactions occurred in a range of $1,168 to $2,753 per pound.
The Cannabis Benchmark analysts commented on the past week’s price increase:
The U.S. Spot Index this week saw its first upward movement in nearly two months, rising almost 3% to settle at $1,623 per pound. A drop in volume-weighted average rates for outdoor flower – which this week was observed to make up less than one-fifth of all documented weight moved – was offset by gains in pricing for both indoor and greenhouse-grown product. Warehouse flower accounted for almost half of the observed volume traded and rose to slightly exceed the $1,900 per pound threshold, off $90 from the current year-to-date high of $1,992.
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Indoor flower prices ranged from $999 to $6,400 per pound, with the median price at $2,200. Greenhouse flower prices ranged from $1,000 to $3,150 per pound, and the median price was $1,305. Outdoor flower prices ranged from $700 to $2,300 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 $4.00 in the all-cities index. The all-cities index price is $11.19 per gram, up seven cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Arizona is currently $9.16, ranging from a high of $15.00 a gram to a low of $6.00. In California the average price is $13.41 per gram, ranging from $17.00 down to $11.00 per gram. And in Oregon, the average is $11.04 per gram in a range of $20.00 to $4.00.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
