Marijuana Price Rises Another 3% to $1,791

For the week ended Friday, July 31st, the spot price index for a pound of cannabis rose from $1,736 in the prior week to $1,791, a jump of slightly more than 3%. The futures price for December 2015 remained unchanged at $1,350.

About two-thirds of the past week’s transactions fell in a range of $1,550 to $2,032 per pound and transaction prices ranged from a low of $1,500 in California and Oregon to a high of $2,500 in Michigan and Alaska according to the analysts at Cannabis Benchmarks. The volume-weighted average price in Colorado rose by about 6% from $1,667 on July 24th to $1,770 a pound last week.

In other marijuana industry news, Oregon governor Kate Brown signed legislation that allows early sale of recreational cannabis through the state’s existing medical marijuana dispensaries beginning October 1, 2015. Oregon faces a glut of dispensaries and the legislation was intended partially to serve as a lifeline to the saturated market.

– Read the entire article at 24/7 Wall St..