Marijuana Prices Rise 5% to More Than $1,700

24/7 Wall St.

Marijuana PlantsFor the week ended Friday, June 12, the spot price index for a pound of cannabis rose to $1,718, up about 4.4% from $1,646 a pound in the prior week. The futures price for December 2015 rose from $1,175 a pound last week to $1,250.

Half of the past week’s transactions fell in a range of $1,700 to $1,900 per pound, but the largest sales traded in the range of $1,400 to $1,700, according to the analysts at Cannabis Benchmarks. The asking price in Colorado averaged $1,930 a pound last week, nearly 12% higher than the settlement price. Colorado authorities arrested a dispensary employee last week for trying to sell 4.5 pounds of marijuana on the black market.

Out-of-state buyers pay more for cannabis sourced from Colorado, while in Washington, the only other state to permit recreational use of marijuana, the black and gray markets tend to sell for lower…

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