In February, the first month that recreational marijuana could legally be sold in Missouri, sales hit $103 million — well above what many industry observers predicted.
That’s good news for the marijuana business. For consumers, it could be more of a mixed bag, at least in the short term.
Here’s why: The state’s licensed cultivators didn’t anticipate such huge weed sales, either. They weren’t operating at full capacity and didn’t grow enough to keep up with all that new demand. Many are ramping up production now, but it takes about four months to grow, dry and cure marijuana.
Which means that until those new plants are ready, supply will stay low while demand is high. Which usually means prices go up. How high depends on whom you ask.
Mike Wilson of Franklin’s Stash House, a manufacturer of cannabis tinctures and beverages, said he expects consumers to see a 50-60% price increase over the next several months in certain categories. The cultivators that provide Wilson with the marijuana he uses in his products have upped their prices, which means Wilson has to charge dispensaries more. He expects those dispensaries to pass along that price increase to consumers. [Read more at The Kansas City Star]
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