For the week ended Friday, March 11, the spot price index for a pound of cannabis was essentially unchanged from $1,920 in the prior week to $1,918. The simple average price for a gram slipped a penny from $4.57 to $4.56.
The futures price for the near month (April) rose 1% from $2,010 to $2,030. For the month of May, the forward price remained flat at $2,110 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 $1,564 to $2,577 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:
Two weeks of stable spot and forward prices resulted in another week of stable forward premiums, with the April premium rising less than 1% … [A] variety of stringent testing requirements are anticipated to increase prices in the coming months, above and beyond the typical price increases associated with waning summer supply.
In the field, buyers and sellers are reporting on the impact of infused products on the wholesale market. As the retail market share for infused products keeps growing, manufacturers are having a more difficult time finding quality trim for extraction and production. Whereas trim might have supplied nearly all of the demand for infused products as recently as last year, we estimate that now as much as 20% of inputs to extracts and concentrates are sourced as lower and medium quality flower, helping to support prices.
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 $10.54 per gram, down eight cents compared with last week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $11.47, ranging from a high of $12 a gram to a low of $8. In California the price is $14.27 per gram, ranging from $25 down to $6 per gram, while in Michigan the average is $16.82 per gram in a range of $20 to $10. In Oregon the average is $10.39 per gram in a range of $21 to $4, and in Washington the average is $10.53 per gram, ranging from a high of $15 to a low of $6.
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