It is safe to say that the Green Rush has begun, as today the Price Per Pound of Cannabis in California has fallen below $1000 on the BudTrader.com Price Per Pound Index. California’s Price Per Pound closes out the week at $971 per pound, according to the BudTrader.com Price Per Pound Index.
This is only the second time on record that California’s Price Per Pound has dropped below $1000 on BudTrader.com’s Index. The first record breaking low for the state occurred on December 21, just 2 weeks prior.
Although most in the cannabis industry were buckling down for a Buyers’ Market with the recreational legalization that took effect in California on Jan 1, 2018, many are still expressing surprise at the huge dips in Price Per Pound on the Index.
One distributor, who asked that his identity remain anonymous, told us, “There is so much flower on the market right now, I’ve never seen anything like it. If the market stays flooded like this it might even be hard for us to even turn a profit.”
In spite of a flooded market and the specter of Sessions’ recent rollback of protection for those operating legally under California State Law, but outside Federal Law, some analysts are still very positive, seeing this as a sink or swim market.
No doubt that many Califronia cannabis industry will have their eye on the BudTrader.com Price Per Pound Cannabis Index in the coming days and weeks as the markets recover and settle from the initial shock of legalization in California.BudTrader.com Price Per Pound Index Page