Companies and Brands

Marijuana Price Rises Less Than 1% to $1,649 a Pound

Paul Ausick

Published: February 18, 2017 8:25 am

Last Updated: January 12, 2020 2:42 pm

For the week ended Friday, February 17, 2017, the spot price index for a pound of cannabis increased by 0.5% from $1,640 in the prior week to $1,649. According to the analysts at Cannabis Benchmarks, the simple average price for a gram decreased from $4.35 to $4.16.

The futures price for the near month (March) remained unchanged at $1,650. For the month of April, the forward price remained unchanged at $1,700. The six-month forward price (August) was also unchanged at $1,575 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,243 to $2,532 per pound.

This week the analysts commented on the price differential between cannabis for the medical market and cannabis aimed at the recreational use market:

After shrinking last week, the difference between rates for product designated as medical and those for flower in adult-use markets expanded this week, from $151 to $206. The overall rise in rates for product in medical markets was driven by state-level price increases in California, Arizona, Michigan, and New Mexico. On the other hand, national-level rates for product destined to be sold to general consumers were down slightly, as composite pricing in Colorado, Oregon, and Washington State all saw small week-over-week declines.

Indoor flower prices ranged from $944 to $5,200 per pound, with the median price at $1,900. Greenhouse flower prices ranged from $1,200 to $3,200 per pound, and the median price was $1,600. Outdoor flower prices ranged from $700 to $2,000 per pound, with a median price of $1,500.

For a wide-angle look at the cannabis industry, see our report on the largest companies in the marijuana business.

Our price check at MJCharts indicates prices range from $25.00 a gram to a low of $4.00 in the all-cities index. The all-cities index price is $11.11 per gram, down three cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $12.07, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $13.76 per gram, ranging from $17.00 down to $10.00 per gram, while in Michigan the average price is $14.52 per gram in a range of $20.00 to $10.00. And in Oregon the average is $11.08 per gram, in a range of $25.00 to $4.00. Data for Washington state were not available again this week.