Marijuana Price Rises to $2,050

For the week ended Friday, February 5, the spot price index for a pound of cannabis rose 3.7% from $2,1,977 in the prior week to $2,050. The simple (non-volume-weighted) average price for a gram fell from $4.78 to $4.70.

The futures price for March increased to $2,090 on the near-month contract. For the month of April, the forward price rose to $2,100 a pound. The six-month forward price for August remained unchanged at $2,150.

About two-thirds of the past week’s transactions occurred in a range of $1,602 to $2,662 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:

This week’s forward volume represented more than 8% of the total number of observed spot and forward transactions. … Rapidly growing demand helped to push up forward prices in the near-term …. These near-term forwards indicate that the market is anticipating prices to rise between 2 and 3% over the next three months from this week’s Spot price of $2,050 per pound.

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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, flat with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.41, ranging from a high of $12 a gram to a low of $8. In California the price is $14.66 per gram, ranging from $25 down to $6 per gram, while in Michigan the average is $16.55 per gram in a range of $20 to $10. In Oregon the average is $10.21 per gram in a range of $21 to $4, and in Washington the average is $10.84 per gram, ranging from a high of $15 to a low of $6.