Demand appears to be driving up the price.

2019 marks the 5th anniversary of Colorado passing Amendment 64 and allowing the retail sale and possession of marijuana. In that time it's acceptance and popularity has grown. It's on its way to becoming "more like liquor" all the time. The price of the new "liquor" may be going up in 2019.

The Colorado Department of Revenue recently released it's quarterly market rates for marijuana. The report says..." the average price per pound of bud and trim rose moderately from the previous quarterly update, specifically to $781 per pound for the bud rate (from $759) and $396 per pound for the trim rate (from $325)." The "market rate" is determined to give retail growers a price point at which they can determine how much their tax bill is going to be. Since the market rate went up, so does the taxes on growers which likely means higher prices for the consumer.

The price increase bucks the trend. Colorado weed prices have been steadily falling since 2015 going from an all-time high at $2,007 a pound to last year's low of $751.

Credit: KRDO

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