Current Data

The U.S. Cannabis Spot Index increased 1.4% to $1,027 per pound.

The simple average (non-volume weighted) price increased $9 to $1,281 per pound, with 68% of transactions (one standard deviation) in the $544 to $2,017 per pound range. The average reported deal size was unchanged at 2.5 pounds. In grams, the Spot price was $2.26 and the simple average price was $2.82.

The relative transaction frequency of indoor product was unchanged in the week, as were those of greenhouse and outdoor product. 

The relative volume of indoor product rose 2%, while that of greenhouse flower fell 2%. Outdoor flower’s relative volume was unchanged.

When asked about the availability of adult use licenses for cannabis business operations in New York, the New York State Office of Cannabis Management (OCM) replied “several foundational tasks need to be completed including issuance and adoption of regulations, hiring and training staff at OCM, and development of infrastructure necessary to accept applications.” Of the adult use licenses that will be issued, the OCM has as a goal of awarding 50% to social equity applicants. 

On the local level, New York City Mayor Eric Adams, in cooperation with the city’s Small Business Services, has pledged to help social equity cannabis entrepreneurs through the Cannabis NYC program. In announcing the initiative, Mayor Adams said, “The regulated adult-use cannabis industry is a once-in-a-generation opportunity for our underserved communities that have, for too long, faced disproportionate rates of drug-related incarceration to get in on the industry on the ground floor. Cannabis NYC will plant the seeds for the economy of tomorrow by helping New Yorkers apply for licenses and understand how to open and successfully run a business, while simultaneously rolling equity into our economy by giving those who have been justice-involved and those with a cannabis conviction a chance to succeed. This is about creating good jobs, successful small businesses, and finally delivering equity to communities harmed by the ‘War on Drugs.’” 

Initially, Cannabis NYC will offer technical assistance with license applications and “other business services.” The City is expecting 19,000 – 24,000 jobs will be created in the new cannabis industry. In addition to supporting applications for cannabis licenses, the program will “connect aspiring cannabis entrepreneurs to non cost services.” Cannabis NYC expects to expand their program as the industry grows by offering support to “non-plant touching ancillary businesses.”