Marijuana Price Jumps 6.7% to $1,921

For the week ended Friday, February 26, the spot price index for a pound of cannabis rose 6.7% from $1,800 in the prior week to $1,921. The simple average price for a gram rose from $4.56 to $4.58.

The futures price for March rose 1.3% from $1,955 to $1,980 on the near-month contract. For the month of April, the forward price remained unchanged at $2,000 a pound. The six-month forward price for August also remained unchanged at $2,250.

About two-thirds of the past week’s transactions occurred in a range of $1,523 to $2,635 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:

The delivery volumes associated with this week’s forwards ranged from 5 pounds to 100 pounds per month. The average forward was just over 21 pounds. The distribution of forwards by grow type was 29% outdoor, 24% greenhouse and 47% indoor. Approximately 30% of the forwards were for weekly deliveries over the next one to four months, and ranged from 5 to 30 pounds per week. A portion of the forwards could be characterized as long-term purchase contracts as they had no specified termination date.

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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 $10.46 per gram, flat with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.33, ranging from a high of $12 a gram to a low of $8. In California the price is $14.54 per gram, ranging from $17 down to $6 per gram, while in Michigan the average is $16.39 per gram in a range of $20 to $10. In Oregon the average is $10.25 per gram in a range of $21 to $4, and in Washington the average is $10.80 per gram, ranging from a high of $15 to a low of $6.