Companies and Brands

Marijuana Price Rises 3% to $1,641 a Pound

Paul Ausick

Published: January 28, 2017 8:55 am

Last Updated: January 12, 2020 3:25 pm

For the week ended Friday, January 27, 2017, the spot price index for a pound of cannabis increased by 2.9% from $1,595 in the prior week to $1,641. According to the analysts at Cannabis Benchmarks, the simple average price for a gram increased from $3.95 to $4.22.

The futures price for the near month (February) rose from $1,625 to $1,650. For the month of March, the forward price remained unchanged at $1,650. The six-month forward price (July) was also unchanged at $1,650 a pound.

About two-thirds of the past week’s transactions occurred in a range of $1,277 to $2,555 per pound.

This week the analysts commented on the wholesale price difference between medical and recreational marijuana:

The gap between wholesale pricing for product designated as medical and recreational shrunk sharply this week, from just under $400 last week to less than $250. … [T]he adult-use states Colorado, Oregon, and Washington State all saw price rises from last week. Declines in rates for cannabis flower destined for sale to patients was driven primarily by falling rates in Arizona’s sizeable medical market. Despite this week’s contraction in the difference between the two categories, pricing in medical cannabis markets has separated itself from rates in adult-use ones after tracking closely from mid-November through early December.

Indoor flower prices ranged from $900 to $3,500 per pound, while the median price was $1,913. Greenhouse flower prices ranged from $900 to $3,200 per pound, with a median price of $1,650. Outdoor flower prices ranged from $700 to $1,500 per pound, and the median price was $1,200.

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 $11.21 per gram, up a penny compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $12.15, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $13.86 per gram, ranging from $17.00 down to $11.00 per gram, while in Michigan the average price is $14.77 per gram in a range of $20.00 to $10.00. In Oregon the average is $11.17 per gram in a range of $25.00 to $4.00.

Data for Washington state were not available again this week. Two weeks ago, the average in Washington was $10.61 per gram, ranging from a high of $17.00 to a low of $4.00.