NEWS BRIEF

Wholesale cannabis bud prices in Colorado set record

The median price of a pound of marijuana flower sold or transferred to a retail store in Colorado rose to a record $1,316, according to the most recent state data.

The price, based on sales between Aug. 1 and Nov. 30, will serve as the average wholesale market rate for the first quarter of 2020 for tax purposes, the Denver Post reported.

The most recent price is 68.5% higher than the average market rate of $781 per pound on Jan. 1, 2019.

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