Companies and Brands

Marijuana Price Rises $3 to $2,023

Paul Ausick

Published: January 23, 2016 9:05 am

Last Updated: January 13, 2020 2:41 pm

For the week ended Friday, January 22, the spot price index for a pound of cannabis rose slightly from $2,020 in the prior week to $2,023. The simple (non-volume-weighted) average price for a gram rose by 14 cents from $4.79 to $4.93.

The futures price for February remained flat at $2,000 on the near-month contract. For the month of March, the forward price was unchanged at $2,020 a pound. The six-month forward price for July also remained unchanged at $2,150.

About two-thirds of the past week’s transactions occurred in a range of $1,713 to $2,759 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:

The volume of forward deals this week represented 4.5% of the total number of observed transactions. While the concept of forward deals is still relatively new to many buyers and sellers, the volume of forward transactions is off by roughly one third from levels witnessed late last summer and early fall. Reports from the field indicate that this is at least partially due to uncertainty regarding the ultimate cost of stricter lab testing on the horizon. …

All reported forwards ranged from 5 to 50 pounds with most deals being either 10- or 20-pound lots. While most multi-month forward deals have prices that increase into the future, about one-third are priced flat, indicating that security of supply or demand is more important than price hedging, at least for some buyers and sellers.

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Our price check at MJCharts.com indicates prices range from $25 a gram to a low of $4 in the all-cities index. The all-cities index price is $10.55 per gram, up nine cents from last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.15, ranging from a high of $12 a gram to a low of $8. In California the price is $15.27 per gram, ranging from $25 down to $6 per gram, while in Michigan the average is $16.24 per gram in a range of $20 to $10. In Oregon the average is $10.35 per gram in a range of $25 to $4, and in Washington the average is $10.85 per gram, ranging from a high of $15 to a low of $6.