The U.S. Cannabis Spot Index decreased 0.4% to $933 per pound.
In grams, the Spot price was $2.06.
The Washington D.C. Cannabis Spot Index finished 2024 showing signs of stabilizing wholesale prices. After experiencing surging prices to start Q3 2024, the market has cooled significantly, yet is trending upward for the third week in a row and in a better position than at the start of the year.
The Nevada Cannabis Spot Index ended the year with positive pricing movement, rising 2.9% per pound this week. Yet 2024 as a whole marked a downward shift in wholesale cannabis flower prices in the state, with the state aggregate price index losing 33.7% since the 2024 opening price assessment. Declines in both indoor grown and greenhouse grown flower equally led to the significant shift in price assessments, with indoor losing 32% and greenhouse losing 29% of value over the course of the year.
In Vermont, wholesale flower prices experienced an upward jolt to end the year, with the Vermont Cannabis Spot Index climbing 7.9% per pound. As was the case in several state markets, 2024 brought sizable losses in the average wholesale value of cannabis in Vermont. At the state level, prices fell 27.5% since the opening week of 2024. All grow types experienced precipitous declines, with outdoor grown flower prices declining by the largest percentage, 44% to be exact. Indoor grown flower prices declined the least, although a noticeable amount at 20.4%, and greenhouse grown flower fell in between the other grow types with a 33.9% loss in value over the course of 2024.
January 2025 Implied Forward assessed down $10 to $970 per pound.
At $970 per pound, the January 2025 Implied Forward represents a premium of 3.9% relative to the current U.S. Spot Price of $933 per pound.
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