Marijuana Price Fell 8.5% Last Week to $1,734

For the week ended Friday, December 4, the spot price index for a pound of cannabis decreased by $161 (about 8.5%) from $1,895 in the prior week to $1,734. The simple (non-volume-weighted) average price for a gram rose from $4.58 to $4.67.

The futures price for January rose from $1,640 to $1,680 on the near-month contract. For the month of February 2016, the forward price increased from $1,680 a pound to $1,775. The six-month forward price for June 2016 is $2,050 a pound, up $20 from the prior week.

About two-thirds of the past week’s transactions occurred in a range of $1,662 to $2,577 per pound, according to the analysts at Cannabis Benchmarks. The volume-weighted average price in Colorado rose nearly 6%, from $1,931 in the previous week to $2,040 a pound last week.

The volume-weighted average price in California last week fell to $1,445 per pound, down 16% from the prior week to essentially flat with the price in the week before Thanksgiving. The Colorado-California price gap expanded to $595 per pound (or $1.31 per gram).

According to Cannabis Benchmarks, the volume-weighted average price of cannabis in Oregon rose 10% last week, from $1,744 to $1,920 a pound. In Washington prices remained virtually unchanged at $1,648 per pound.

Consumers in Oregon enjoyed a “Green Friday” promotion on November 27, with a quarter-ounce of outdoor-grown, southern Oregon cannabis being sold for $20, well below the usual price of $55 to $80, according to Cannabis Benchmarks. The firm noted:

While not stated explicitly, this promotion undoubtedly sought to create awareness of the high quality able to be achieved in outdoor-grown product – and ultimately generate more demand for the crops of the participating farmers – in a market that continues to favor cannabis flower grown indoors.

Our price check at MJCharts.com indicates prices range from $25 a gram to a low of $5 in the all-cities index. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.18, ranging from a high of $12 a gram to a low of $8. In California the price is $14.27 per gram, ranging from $25 down to $6 per gram; in Michigan the average is $17.05 per gram in a range of $20 to $10; in Oregon the average is $10.33 per gram in a range of $20 to $5; and in Washington the average is $10.85 per gram, ranging from a high of $15 to a low of $6.

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