The price of a pound of legal marijuana continues to plummet in 2017, according to a new report tracking the commodity’s U.S. spot price index.
Wholesale cannabis prices dropped 18.6 percent nationwide in the first half of 2017, with Colorado prices dropping by up to 40 percent compared to the first half of last year, according to Cannabis Benchmarks’ “2017 Mid-Year Wholesale Market Report.” Similar to commodities like gold and oil, the Denver-based independent price reporting agency tracks spot prices — the current value in the marketplace at which an asset can be bought or sold for immediate delivery.
Despite the overall decline, marijuana prices showed “remarkable” stability considering last year’s price volatility and recent political uncertainty, the analysts found. For the first six months of this year, there has only been a $150 difference between the low and high prices for legal cannabis nationally, compared to nearly $300 separating the lows and highs during the first half of 2016.
The U.S. Spot prices for wholesale cannabis opened the year at $1,532 a pound, up from the 2016 annual low of $1,386 per pound. However, based on 2015 and 2016 wholesale prices, the firm expects further price declines through November as seasonal fall harvest hits the market. [Read more at The Denver Post]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
By Hilary Bricken, Attorney at Husch Blackwell Dealing with creditors is never a fun experience. However, some creditors are more severe than others, especially in the cannabis industry. One of…
The long wait on whether Floridians will get a chance to vote to legalize recreational cannabis for adults 21 and older is almost over, as the Florida Supreme Court is…
Missouri’s health department on Wednesday stripped two coveted marijuana micro-licenses tied to an out-of-state company that had been accused of predatory practices and had listed the licenses for resale. The…
Big Island Grown (BIG) is a vertically integrated cannabis company based in Kailua-Kona, Hawaii County, on the Big Island of Hawaii, whose reach now extends to several islands in the…