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Marijuana Price Down 9% to $1,848

For the week ended Friday, September 18th, the spot price index for a pound of cannabis dropped by $185 (9%) from $2,133 in the prior week to $1,948. The previous week’s price may have marked the high for the year, as the first crops of the season have been harvested and delivered to market.

The futures price for December 2015 rose $40 to $1,425, and the October forward also remained flat at $1,850. For the month of November, the forward price drops to $1,650 a pound, up by $150 compared with last week’s index.

About two-thirds of the past week’s transactions occurred in a range of $1,650 to $2,516 per pound according to the analysts at Cannabis Benchmarks. The volume-weighted average price in Colorado fell from $2,040 on September 11th to $2,012 a pound last week.

The volume weighted average price in California last week was $1,799 per pound, down 5% from $1,884 in the previous week.

According to Cannabis Benchmarks, the volume weighted average price of cannabis in Oregon dropped 9% last week, from $1,841 to $1,682 a pound. In Washington prices fell 5%, from $1,843 a pound to $1,758.

In the futures market, Cannabis Benchmarks noted:

Despite growing supply, from both the harvest and new cultivation facilities coming online, market participants are anticipating that demand will grow more rapidly than supply. The acceleration of new regulation, particularly in California, but also in states across the country, represents a monumental expansion of the industry. The ramifications of which extend beyond buyers and sellers to the full gamut of ancillary service providers that are opening and relocating offices in California and elsewhere in the west.

Our price check at MJCharts.com indicates prices range from nearly $25 a gram to a low of $3. The overall average price for an ounce of marijuana (all strains) in Colorado is currently $10.97 per gram, ranging from a high of $20 a gram to a low of $5. In California the price is $15.39 per gram, ranging from $25 down to $3 per gram; in Michigan the average is $15.62 per gram in a range of $22 to $7.50; in Oregon the average is $9.92 per gram in a range of $16 to $5; and in Washington the average is $10.37 per gram, ranging from a high of $15 to a low of $6.

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By Paul Ausick