Add Massachusetts to the growing list of oversupplied recreational cannabis programs.
Similar to Colorado, Michigan, Oregon and Washington state, Massachusetts has too much cannabis on the market and demand can’t keep up with supply, causing prices across several sectors to fall by up to 50% since this time last year.
According to the Massachusetts Cannabis Control Commission, which regulates marijuana in the state, the average retail price for flower per gram averaged $7.76 in October, the most recent month with available sales data.
ADVERTISEMENT
That’s down from $14.38 for a gram of flower the same month a year ago.
Sources in the state say that wholesale flower and cannabis oil for infused products and extracts are showing a similar sales pattern, which has happened in several other recreational marijuana markets.
The trend: Prices start high for cannabis companies in the early years, then, as production capacity ramps up,
Read full article on Marijuana Business Daily
