The average market rate for wholesale marijuana in Colorado hit a three-year high, according to new figures from the Colorado Department of Revenue.
The average market rate for bud increased by 31.6% over the previous quarter, while the rate for trim grew 16.7% on a quarterly basis.
Other average market rates for the quarter, with quarterly changes were:
- $502 per pound of bud allocated for extraction (down 16.2%)
- $175 per pound of trim allocated for extraction (down 13.4%)
- $9 per immature plant (no change)
- $175 per wet whole plant (down 0.6%)
- $8 per seed (up 100%)
The Colorado Department of Revenue’s average market rates, which are used in levying excise taxes, were calculated from regulated wholesale transactions from June 1 to Aug. 31.
The $1,316 average market rate for a pound of bud represents the highest rate since October 2017, according to a list of previous rates.
That rate bottomed out at $759 during the quarter beginning Oct. 1, 2018.
In contrast, the current $350 average market rate for a pound of trim was only half what it was during the quarter beginning April 1, 2018, when that rate peaked at $700.