Wholesale cannabis Archives - Green Market Report

Debra BorchardtSeptember 19, 2023


The latest data from Cannabis Benchmarks reported that the national wholesale flower price has hit a historic low. For the week ending September 15, the U.S. Cannabis Spot Index decreased 1.2% to $936 per pound and in grams, the Spot price was $2.06.

Cannabis Benchmarks wrote that prices continued to slide with summer sales drawing to a close and the traditional fall harvest fast approaching. The wholesale flower price of $936 per pound is down 7.3% year-on-year, from $1,010 in the week ending September 16, 2022.

The data collector wrote, “We have in recent reports noted that the current downturn can be chalked up largely to seasonal trends, with summer harvests coming to market as sales begin to slow in the wake of the high-demand summer season.”

Despite the gloomy news, there were some glimmers of green shoots in the data. Benchmarks also noted that “While greenhouse and outdoor flower have been contributing to the overall downtrend in the U.S. Spot that began in June, both remain above their recent lows. This week’s greenhouse flower price of $670 per pound is up 10.6% from its recent trough of $606, observed in February. This week’s outdoor flower price of $452 per pound is up 17.1% from the December 2022 low of $386 for the grow type.”

States With Rising Prices

Cannabiz Media also posted pricing information based on data from Cannabis Benchmarks that also highlighted some states where prices have actually risen. Looking at the data from August 2023, the top three states where the average price per gram increased were:

  • MA increased by 11.99% ($0.35) from $2.92 to $3.27.
  • VT increased by 4.58% ($0.20) from $4.37 to $4.57.
  • NY increased by 4.35% ($0.25) from $5.75 to $6.00.

Similarly, the top three states where prices increased per pound were:

  • MA increased by 12.08% ($160.00) from $1,325.00 to $1,485.00.
  • VT increased by 4.54% ($90.00) from $1,982.00 to $2,072.00.
  • NY increased by 4.33% ($113.00) from $2,607.00 to $2,720.00.

Consistency In Cycles

Cannabis Benchmarks also stated that outdoor flower prices for last week were similar to last year’s prices at the same time period.  They wrote, “Outdoor product prices also experienced a short-lived rise in late summer 2022 before turning downward to bottom out near the end of the year. Similar performance this year is likely and it would not be unexpected to see price dip to similar depths reached in Q4 last year. Although, as we discussed last week, this year’s autumn/winter decline may be tempered due to pullbacks in production in major Western markets.”

For example, Oregon‘s outdoor harvest significantly declined this year. Benchmarks wrote that Oregon’s August 2023 total harvest volume – encompassing indoor, outdoor, and mixed light licensees – was 667,267 pounds of wet weight, down 41.9% from August 2022’s total harvest of 1,148,924 pounds.

John SchroyerJuly 19, 2023


The U.S. marijuana wholesale market has apparently reached a bit of stabilization this year, after a precipitous drop in 2022, and has even rebounded somewhat since last year, according to a recent report from Cannabis Benchmarks.

For the week that ended July 14, wholesale prices decreased by 3.1% to $1,020, according to the report, but that’s still an increase from December, when wholesale prices had dropped to $955, Benchmarks reported at the time.

The spot index report found that wholesale prices have gone down “in four of the last five weeks after staging a successful rally from March until the first week in June.”

“The rally fizzled as legacy states – specifically California, Oregon, and Colorado – started selling off in early to mid-June. Of the legacy states, only Washington State’s spot price is trading sideways as opposed to lower,” Benchmarks reported.

For indoor-grown flower, wholesale prices averaged $1,327 per pound; for greenhouse-grown cannabis, it was $718, and for outdoor-grown marijuana it was $479.

Looking forward, Benchmarks expects a wholesale price surge in August, with average pounds of flower shooting up to $1,075, a 5.4% increase, before slowly decreasing the rest of the year back to about $1,010 at the start of 2024.

The most expensive wholesale cannabis as of July can be found in Washington, D.C., where “there are only a handful of licensed producers, and where commercial adult use cannabis activity is still illegal,” according to the report. The least expensive is in Oregon, where the oversupplied market is reportedly a “wreck” and “in crisis.”

Falling wholesale prices are likely to only continue as a trend for the industry, Jonathan Rubin, the CEO of New Leaf Data Services, told Green Market Report in December. That’s because federal U.S. marijuana legalization – which could happen within the year, depending on how fast the Biden administration finishes its rescheduling review – will create a truly national marketplace which will depress prices even further. Then, prices will plummet again once a truly global cannabis trade comes online, said Rubin, who oversees the Cannabis Benchmarks report.

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