Colorado’s average price of a pound of wholesale marijuana grows for fourth straight quarter
At $999 per pound, state-set average hits highest point since April 2018
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Like a hiker with a fourteener fix, the price of wholesale pot just keeps climbing in Colorado, according to the state statistics.
Between May 1 and July 31, the average price of a pound of dried marijuana sold wholesale to stores hit $999, according to the Colorado Department of Revenue. That’s a nearly $150 jump over the $850 average the state recorded in July.
The $999 average market rate price, a figure used by the state when assessing its 15% excise tax on retail marijuana sales and transfers, takes effect Oct. 1. It marks the fourth straight three-month reporting period during which the cost of bud rose. In October 2018, a pound was going for $759 on average.
The average cost of buds destined to be turned into extract products also rose during the reporting period, hitting $254, up from $227. Whole undried plants rose to $173 per pound from $152 and average seed costs rose to $5 each from $4. The prices of wholesale trim and immature plants were flat at $325 per pound and $8 apiece respectively.
- December 21, 2018 Colorado sees average price of wholesale marijuana rise in second half of 2018
- December 29, 2018 VIDEOS: Understanding where Colorado’s marijuana money goes
- August 6, 2019 More of the legal marijuana sold in Colorado is increasingly for recreational use
The record average price per pound of wholesale bud was set in January 2015 at $2,007, state data shows. The last time the average price per pound was over $1,000 was in April of last year.
Between May 1 and July 31, the average price of a pound of dried marijuana sold or transferred from a commercial grow operation in Colorado hit $999.
How Much Does A Pound Of Weed Cost? | Updated (2020)
It’s common to ask how much does a pound of weed cost when you’re buying cannabis as a new user. The average cost of a pound of weed is $2,000 to 3,000. The other reason is that you know you should start consuming weed with a small or tolerant amount.
As there are thousands of legal buyers are buying cannabis, we have made it simple for the new weed buyers. So, it’ll help you to get many unanswered questions that you have in your mind.
Another reason to ask the questions of the price of weed is that nobody wants to be cheated while buying cannabis or weed. Well, let’s know the price of a pound of weed in details along with some related topics.
Price Of A Pound Of Weed
You’ll find a restriction in the California and Colorado states where you can buy one ounce of weed from one visit. But, if you want to buy weed from wholesalers, you must have an individual store.
Before you learn what the cost of weed is, you should learn how many grams of weed or cannabis in an ounce. Moreover, we’re going to explain the amount grams of a pound of weed that will help you for the better understanding. And one pound is equivalent to 453.59 grams on MKS system.
Well, in the black market of the many US states a pound of weed costs in between $2,000 to $4,000. Consuming cannabis is not legal in these states and the price also depends on the product quality. Therefore, one pound of weed cost in between $2,000 to $3,000.
The Factors That Influence The Price
The sales of marijuana continue to blow up when more of the US states start making it legalized for medical and recreational use in 2019. For the same reason, the prices of weed go down because of increased sales.
Thus, here is working mainly two factors to influence the price of weed. They’re the legalization and the more production than the previous years. Also, quality is another great factor that affects the price. Let’s know about some other factors below:
Competition is probably another factor on the weed price and it depends on where you purchase it from. If your area has multiple dispensaries and multiple individuals to sell it, there is a competition among them. This may work to cut down the price.
On the contrary, if there is a single shop or individual to sell it, it’ll usually cost more. So, when there is no competition out there, the sellers want to charge more price as this is a comparatively short supply commodity.
In the US states where cannabis is legal, its sale is always linked with government tax or fee for weed. For example, Colorado State has 2.9% of the tax rate for the regular weed and it takes 10% of taxes for special marijuana.
The situation of taxes of most states and cities are almost the same. That means you’re paying more money for the taxes and it’s from 1.69% to 9.45% in all the states. Thus, this is making weed price higher.
It’s a common business strategy that if you buy a large part of a product, you’ll get it at a cheaper price. This is also the same answer for the question of how much does a pound of weed cost.
Regardless of the approach you go with, it’s a very initial step to getting educated to enter into the weed or cannabis market to discover its price marks in your local market. You’ll find some different reasons why the prices of weed widely vary from the list.
The average cost of a pound of weed is $2,000 to 3,000. in the black market of the many US states a pound of weed costs in between $2,000 to $4,000