Marijuana plant processor Mario Arroyo trims buds off of marijuana plants at MMJ America cannabis growing facility at the old Dardano’s Flowerland greenhouse on April 11, 2018 in Denver, Colorado.
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.
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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.
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.