Marijuana Price Slips to $1,988

For the week ended Friday, April 29, the spot price index for a pound of cannabis dropped 0.7% from $2,002 in the prior week to $1,988. The simple average price for a gram remained essentially flat, rising from $4.70 to $4.71.

The futures price for the near month (May) remained unchanged at $2,050. For the month of June, the forward price also remained unchanged at $2,075 a pound. The six-month forward price for October was also unchanged at $1,750.

About two-thirds of the past week’s transactions occurred in a range of $1,580 to $2,689 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on politics and the forward price curve:

After decreases last week in both the September and October Forwards, the market for forward transactions was unchanged this week.  Reports from the field indicate that Forward prices could remain relatively stable until there is greater clarity regarding weather conditions and the impact on planting ahead of the summer solstice.

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The analysts noted that implied forward prices are expected to reach their peak in August at $2,250 a pound before returning to $1,750 in October.
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 $10.69 per gram, up three cents compared with the prior 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 $14.57 per gram, ranging from $25 down to $6 per gram, while in Michigan the average price is $16.30 per gram in a range of $20 to $10. In Oregon the average is $10.63 per gram in a range of $20 to $4, and in Washington the average is $10.73 per gram, ranging from a high of $20.00 to a low of $6.