The Colorado Department of Revenue released the average market rates for recreational cannabis for October 1 to December 31, 2023, showing modest price increases in three product categories — though prices remain at or near all-time lows.
Cannabis flower increased from $703 to $750 per pound; seedlings increased from $13 to $15; and flower for extraction increased from $143 to $350 per pound. The average market rate for flower was $658 per pound in Q4 of 2022 and $1,316 in Q4 of 2021.
Another three categories saw decreases for fourth quarter of 2023: retail trim decreased from $300 to $150 per pound; trim for extraction decreased from $41 to $30 per pound; and wet whole plants decreased from $ 82 to $71 per pound. The market rate for seeds remained at $9 each.
The average market rate is the median market price for specific categories of unprocessed retail cannabis being sold or transferred from cultivation facilities to either product manufacturing facilities or retail cannabis stores. The market rate is based on Metrc data from the previous quarter and calculated by the Department of Revenue’s Office of Research and Analysis in coordination with the Marijuana Enforcement Division and Taxation Division. The average market rates are used for levying the excise tax as required by Colorado statute.