According to Cannabis Benchmarks™, “a leading provider of financial, business and industry data for the North American cannabis markets,” national marijuana price averages have dropped 5% in the past week.
How, you may ask, are national prices of a federally criminalized substance tracked and measured? Well for starters, the states that have legal weed at an individual level have legal cultivation standards and practices, and as such, have real data for the studies and projections of benchmarks.
As well, the company uses Spot & Forward price assessments for the industry post distribution and sales market, which all really just means they have brainiacs using mathscience to get numbers.
With their projections, the average price of a pound of marijuana today dropped to about $1,735, down the 5% from $1,821.75. This is a larger downfall in a shorter time than tends to happen. But don’t get too excited, because these kinds of fluctuations do occur and often do not imply a larger trend or wave of low prices on the horizon.
And one study done by Cannabis Benchmark™ does state that if a lengthier price cut should withstand, then national pressure for the lower standard might set in. The influence of Oregon coming into the fold seems to have these weedhackers thinking that a shift in the balance of production and sale will make for lower prices all around. And they feel that this only means good things for both those buying and selling. Because with the major production ramp up about to unfold in the coming years, the industry will become more stable. And prices will be quite reasonable.
Cross your fingers. And your joints.
All told, seeing that this week’s average price is down, however, is no small thing to scoff at. Rather, it should be something to get you up and out to your local clinic to get a little more bong for your donation. Sorry, we mean bang.
Well, we mean both.
Photo via KWGN