Marijuana Price Slips 1% to $1,949

For the week ended Friday, April 8, the spot price index for a pound of cannabis fell 1.1% from $1,971 in the prior week to $1,949. The simple average price for a gram also fell about 3.5% from $4.81 to $4.64.

The futures price for the near month (May) rose 2.5% from $2,000 to $2,050. For the month of June, the forward price rose 3.2% to $2,075 a pound. The six-month forward price for October fell about 7% to $1,850.

About two-thirds of the past week’s transactions occurred in a range of $1,548 to $2,665 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:

While the market continues to tighten in the near-term, producers are already planning new supplies for the medium- and longer-term. Many growers in the high production states of California, Oregon and Washington see economic benefit in natural agricultural methods and they are planning new and expanded outdoor and greenhouse grow operations. … [T]he fall harvest period typically signals a transition from a seller’s market to a buyer’s market as new supplies saturate local and regional markets and drive down prices nationally.

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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 $10.43 per gram, down three cents compared with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.45, ranging from a high of $12 a gram to a low of $8. In California the price is $14.10 per gram, ranging from $25 down to $6 per gram, and in Michigan the average price is $16.36 per gram in a range of $20 to $10. In Oregon the average is $10.32 per gram in a range of $21 to $4, while in Washington the average is $10.18 per gram, ranging from a high of $13.70 to a low of $6.