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Marijuana Price Steady at $1,655 a Pound

Paul Ausick

For the week ended Friday, April 21, 2017, the spot price index for a pound of cannabis was unchanged week over week at $1,655. According to the analysts at Cannabis Benchmarks, the simple average price for a gram slipped from $3.98 to $3.94.

The futures price for the near-month (May) slipped from $1,750 to $1,730. For the month of June, the forward price remained unchanged at $1,725. The six-month forward price (October) was also unchanged at $1,460.

About two-thirds of the past week's transactions occurred in a range of $1,059 to $2,518 per pound.

The analysts commented this week on the price stability in the wholesale market during the month of April:

With the national price essentially flat over the past few weeks, buyers appear to have improved supply chain management, avoiding the wholesale price bump that accompanied the run-up to the 4/20 industry festivities in prior years. What is difficult to ascertain is how much growth in overall supply contributed to the current price stability versus smarter buying and better forecasting of consumer demand. Despite the drivers behind April's stable wholesale prices, the fact remains that greater supply and competition have driven prices lower.

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Indoor flower prices ranged from $800 to $6,400 per pound, with a median price of $2,000. Greenhouse flower prices ranged from $987 to $3,200 per pound, while the median price was $1,305. Outdoor flower prices ranged from $725 to $2,000 per pound, and the median price was $1,400.

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 $22.00 a gram to a low of $3.00 in the all-cities index. The all-cities index price is $11.09 per gram, up two 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 $14.42 per gram, ranging from $22.00 down to $11.00 per gram, and in Oregon, the average is $11.04 per gram in a range of $21.00 to $3.00. Data for Michigan and Washington state were not available. The price in Arizona last week averaged $9.19, with a high of $15.00 a gram to a low of $6.00.

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