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Marijuana Price Rises 3% to $1,640 a Pound

Paul Ausick

For the week ended Friday, February 10, 2017, the spot price index for a pound of cannabis increased by 3.2% from $1,591 in the prior week to $1,640. According to the analysts at Cannabis Benchmarks, the simple average price for a gram increased from $4.06 to $4.35.

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 $1,365 to $2,580 per pound.

This week the analysts commented on the confirmation of Jeff Sessions as U.S. Attorney General:

Alabama Senator Jeff Sessions was this week confirmed as the new U.S. Attorney General (AG). Sessions’ previous public expressions of antipathy toward state-legal cannabis has been discussed extensively … Overall, prognostications as to the policy direction of the Trump administration appear at this point to be fruitless, given the arbitrary and chaotic conduct of the executive branch in the period since the inauguration. Time will tell whether Sessions will employ the power of his office to enforce the federal Controlled Substances Act (CSA), under which cannabis remains illegal and designated as a Schedule I substance.

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Indoor flower prices ranged from $700 to $3,250 per pound, with the median price at $2,025. Greenhouse flower prices ranged from $1,200 to $2,200 per pound, while the median price was $1,550. Outdoor flower prices ranged from $800 to $1,900 per pound, and the median price was $1,300.

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 $11.14 per gram, up four cents compared with the prior week. The overall average price for a gram of marijuana (all strains) in Colorado is currently $12.01, ranging from a high of $15.00 a gram to a low of $8.00. In California the average price is $13.35 per gram, ranging from $17.00 to $10.00 per gram; in Michigan the average price is $14.76 per gram in a range of $20.00 to $10.00; and in Oregon the average is $11.07 per gram in a range of $25.00 to $4.00. Data for Washington state were not available again this week.

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