Marijuana Price Rises 4% to $2,128 a Pound

The futures price for December 2015 remained unchanged at $1,385, and the October forward fell about 5% to $1,825. For the month of November, the forward price drops to $1,500 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,703 to $2,741 per pound, and transaction prices ranged from an average low of $700 in California to a high of $4,000 in Nevada, according to the analysts at Cannabis Benchmarks. The volume-weighted average price in Colorado ticked up from $2,085 on August 28 to $2,090 a pound last week.

The volume-weighted average price in California last week was $1,900 per pound, up 7% from $1,782 in the previous week.

According to Cannabis Benchmarks, the volume-weighted average price of cannabis in Oregon rose 5% last week, from $1,720 to $1,802 a pound. The state’s growers, however, face a severe oversupply condition that could push Oregon’s “untracked growers to seek higher prices outside of the regulated system.”

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Another concern reported this week is possible damage to the cannabis crop from wildfires in Washington state. Cannabis may be “unfit for sale due to smoke damaged and particulate matter becoming lodged in the resinous flowers,” according to Cannabis Benchmarks, which also noted:

Growers in areas unaffected by fires may be able to command higher prices come fall, while flower that is not shelf-worthy is likely to be processed into concentrates and infused products, possibly flooding those markets if passable extractions are able to be made from tainted raw material. In Washington, it would likely take a drastic supply shortage to affect the wholesale flower market. Roughly four farms exist for every one dispensary, which has led to growers being forced to sell low to secure space on the shelves, while dispensaries are able to maintain a healthy markup due to increasing demand.

Our price check at MJCharts indicates prices range from more than $700 an ounce to around $113. The overall average price for an ounce of marijuana (all strains) in Colorado is currently $11.09 per gram, ranging from a high of $20 a gram to a low of $5. In California the price is $15.57 per gram, ranging from $25 down to $5 per gram. In Michigan the average is $15.49 per gram in a range of $22 to $7.50, while in Oregon the average is $9.83 per gram in a range of $16 to $4. And in Washington the average is $10.33 per gram, ranging from a high of $15 to a low of $6.

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