Colorado Pot Is at Its Highest Prices in Three Years
Pot is getting "higher" in Colorado...and not in the good way.
According to a press release from the Colorado Department of Revenue (CDOR), retail marijuana is at its highest prices in three years.
CDOR calculated this by looking at marijuana's Average Market Rates, or AMR.
AMR is "the median market price of each category of unprocessed retail marijuana that is sold or transferred from retail marijuana cultivation facilities to retail marijuana product manufacturing facilities [or stores]."
AMRs help determine the taxes on a specific good, in this case marijuana, for the state of Colorado.
The AMR categories of retail marijuana include seed, bud rate, trim rate, bud allocated for extraction rate, trim allocated for extraction rate, immature plants, and the wet whole plant rate.
Seed was the only category to stay the same this quarter, which lasts from January 1 of 2020 to March 31 of 2020.
All of the other categories saw some form of increases, with the bud rate, or average price per pound of bud, growing to over $1,000 for the first time since April of 2018.
This marks the fifth quarter the bud rate has risen, with the bud allocated for extraction rate also increasing by almost $50.
The trim rate is now at $350 per pound, $25 higher than last quarter. The trim allocated for extraction rate also increased by about $50.
The wet whole plant rate rose by around $20, while the immature plants saw a $1 increase from last quarter.
These numbers were calculated based on data gathered from the Marijuana Enforcement Division's (MED) marijuana inventory tracking system from August 1 to November 30.
More information about the methodology behind the marijuana business can be found here.
In the meantime, it looks like you might be spending a little more green on your, well, green.