Marijuana Price Slips to $1,901

For the week ended Friday, March 18, the spot price index for a pound of cannabis fell about 1% from $1,918 in the prior week to $1,901. The simple average price for a gram also rose about 1% from $4.56 to $4.60.

The futures price for the front month (April) fell 3.2% from $2,030 to $1,965. For the month of May, the forward price fell 5.5% to $2,000 a pound. The six-month forward price for September remained unchanged at $2,200.

About two-thirds of the past week’s transactions occurred in a range of $1,610 to $2,550 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:

Spring prices aside, the market continues to anticipate higher prices during the summer months, with three compounding factors supporting this position: Higher outdoor temperatures will increase the cost of indoor cultivation while reducing indoor supply; new and increasingly stringent testing will result in more quarantines and the elimination of supply deemed unsuitable for consumption; and upward price pressure from demand which typically increases during the summer months.

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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 $10.46 per gram, down eight cents compared with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.43, ranging from a high of $12 a gram to a low of $8. In California the price is $14.54 per gram, ranging from $25 down to $6 per gram, while in Michigan the average is $17.05 per gram in a range of $20 to $10. In Oregon the average is $10.30 per gram in a range of $21 to $4, and in Washington the average is $10.23 per gram, ranging from a high of $13.70 to a low of $6.