Companies and Brands
Marijuana Price Up Nearly 1% to $1,669 a Pound
Published:
Last Updated:
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.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
