Overcapacity in dispensaries in Colorado is driving down marijuana prices. Retail prices for marijuana have dropped in the third quarter, according to a marijuana store survey by Nicholas Colas, chief market strategist with Converge.
Colas surveyed retail outlets in Colorado and found that marijuana prices fell from $50-$70 for an eighth of an ounce to $30-$45. An ounce fell from $300-$400 to the lower end of $300 an ounce. Colas found that all of his contacts said that greater competition was the reason for the pricing pressure as more retail dispensaries and grow facilities were opened.
“To put this in perspective, there were 156 retail marijuana stores and 204 retail marijuana cultivation facilities at the beginning of 2014, according to the Colorado Marijuana Enforcement division,” wrote Colas. “At the end of December 2014, there were 322 retail stores and 397 retail cultivations respectively.” As of August 3rd, that number has increased to 385 retail stores and 496 retail cultivations, a 20% and 25% increase respectively. [Read more at Forbes.com]
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Notify me of follow-up comments by email.
Notify me of new posts by email.
POSaBIT, the cannabis point-of-sale (POS) and payments software company, this morning announced its planned acquisition of MJ Platform (MJ Freeway), Leaf Data Systems, and Ample Organics from embattled software company…
New York marijuana regulators on Wednesday approved dozens of conditional adult-use dispensary licenses in a session during which members also discussed adopting bylaws for how the board runs meetings and makes decisions.…
By Griffin Thorne, Attorney at Harris Bricken Since the passage of the 2018 Farm Bill, the hemp CBD industry has been eagerly awaiting FDA CBD regulations. In that time, FDA…
The US Food and Drug Administration has finalized a 2020 draft guidance outlining how sponsors and investigators can conduct clinical trials for certain drugs containing cannabis or cannabis-derived compounds without…