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Spot prices for marijuana are slowly climbing higher after a precipitous fall over the past year. Cannabis Benchmarks has been tracking the prices of wholesale cannabis since 2015 and have seen the price per pound drop from an average of $1,953 to a low average of $1,487 in 2016.
So far in 2017, the first quarter average has risen to $1,613. Jonathan Rubin of Cannabis Benchmarks has seen an evolving pattern in the price of wholesale marijuana which is behaving like a typical commodity. Prices are linked to supply, which correlates with harvest schedules.
The wholesale marijuana market gets its product from three different sources with different harvest times. The indoor growers are harvesting all year around and can deliver four to six harvests, greenhouse grows can typically generate four harvests a year, while outdoor grows only get one harvest. The outdoor grows usually harvest in the fall typically pushing the prices down as the large supply gets released into the market.