Now that marijuana is legal in several states, prices are falling, and that is changing the marketplace, according to Forbes.com. “Wholesale marijuana prices declined in 2016 from $2,500 to $1,000 per pound, with some dispensaries offering recreational ounces as low as $65 on CannaSaver.com,” Brian Shapiro, Chief Executive Officer of CannaSaver, said.
Tag Archives: Commodities
California’s marijuana crop is its biggest agricultural commodity, outpacing the next five top commodities combined, according to a Dec. 29, 2016, article in the Orange County Register. Marijuana’s estimated value to California was $23.3 billion in 2015, the Register reported, basing its estimate on the number of seized plants.
You can trade gold and pork belly futures, why not hemp?
LONDON & CHICAGO, Feb. 17, 2016 /Weed Wire/ —GMEX Group today announced that it has entered into an agreement with Seed Commodities Exchange (Seed CX) based in Chicago.
Buyers and sellers in the legal cannabis industry may think they have a handle on market pricing, but legalized cannabis is still a fledgling industry with supply and demand in constant flux.
U.S. energy stocks moved down on the news that OPEC would not be easing supply, which caused oil prices to tumble over the holiday.