Marijuana Price Slips to $1,901 per Pound
For the week ended Friday, March 18, the spot price index for a pound of cannabis fell about 1% from $1,918 in the prior week to $1,901. The simple average price for a gram also rose about 1% from $4.56 to $4.60.
The futures price for the front month (April) fell 3.2% from $2,030 to $1,965. For the month of May, the forward price fell 5.5% to $2,000 a pound. The six-month forward price for September remained unchanged at $2,200.
About two-thirds of the past week’s transactions occurred in a range of $1,610 to $2,550 per pound, according to the analysts at Cannabis Benchmarks. The analysts also commented on the forward price curve:
Spring prices aside, the market continues to anticipate higher prices during the summer months, with three compounding factors supporting this position: Higher outdoor temperatures will increase the cost of indoor cultivation while reducing indoor supply; new and increasingly
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