Marijuana Price Ticks Up to $1,904

For the week ended Friday, March 25, the spot price index for a pound of cannabis rose fractionally from $1,901 in the prior week to $1,904. The simple average price for a gram also fell about 2.8% from $4.60 to $4.70.

The futures price for the near month (April) rose 2% from $1,965 to $2,010. For the month of May, the forward price remained unchanged at $2,000 a pound. The six-month forward price for September also remained unchanged at $2,200.

About two-thirds of the past week’s transactions occurred in a range of $1,541 to $2,510 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:

Stability in the Spot price over the past month appears to be driving some reduction in the proportion of forward transactions – and perhaps vice versa – as many buyers and sellers are satisfied with the current market. … Thus, the later months of the forward curve can be characterized as illiquid.  The uncertain impact and specific timing of required testing-related cost increases anticipated this summer, along with an inability to gauge the health and size of a fall harvest for which planting has not yet begun, is producing a preference for the stability and transparency of the current spot market.

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Our price check at MJCharts.com indicates prices range from $21 a gram to a low of $4 in the all-cities index. The all-cities index price is $10.42 per gram, down four cents compared with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.42, ranging from a high of $12 a gram to a low of $8. In California the price is $13.96 per gram, ranging from $17 down to $6 per gram, and in Michigan the average price is $16.67 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, while in Washington the average is $10.31 per gram, ranging from a high of $13.70 to a low of $6.