The U.S. Cannabis Spot Index increased 0.3% to $1,011 per pound.
In grams, the Spot price was $2.23.
So far this year, wholesale prices by grow type have remained relatively stable, with outdoor, greenhouse and indoor grown flower each fluctuating no more than about $40 per pound from the year’s initial price.
However, from this time last year, indoor prices have risen 18.8% from $1,165 to $1,384, and greenhouse grown flower prices have risen 9.2% from $641 to $700. Outdoor sungrown flower prices are nominally unchanged, down 1%, from $436 to $431.
Thus far, the greatest price movement has occurred in prices by market type. The U.S. Spot Index is now largely driven by recreational sales, and the two track together relatively closely. Medical markets, however, have experienced the greatest change year-to-date, with the U.S. medical spot price starting the year at $912 per pound and rising 32% to $1,202 last week before declining to $1,165 this week.
March 2024 Implied Forward unchanged at $1,045 per pound.
At $1,045 per pound, the March Implied Forward represents a premium of 3.3% relative to the current U.S. Spot Price of $1,011 per pound.
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