Today's Weed News for July 13th 2018 #WEEDPRICES
For today's weed news we go to the great state of Colorado.
Weed prices are falling and so is revenue for cannabis businesses in Colorado.
After putting up the biggest recreational cannabis numbers to date in March 2018, sales have started to drop.
Both April and May of 2018 have produced lower revenue respectively.
The price of a pound of cannabis flower which used to cost around $2,000 back in 2015 is now down to about $850 and just over $400 for trim. And that seems to really be affecting the bottom line.
Such a sharp decline in retail price could spell trouble and possibly cause some businesses to close their doors before the end of the year.
Cannabis entrepreneurs in other states that have recently enacted recreational cannabis laws should be taking notice. This could be a foreshadowing of what is to come in their neck of the woods before long.
Some say this is a simple case of supply and demand.
And although the demand for recreational cannabis remains high, this may be a sign of market oversaturation. Or maybe less people from out-of-state are traveling to Colorado to buy recreational weed because their home States are beginning to implement their recreational cannabis programs.
I personally believe that it could be a combination of both. It's going to be interesting to see if prices drop any lower but $850 a pound for some dro is pretty damn good from a consumer's point of view.
Let's hope that the market eventually finds some kind of happy medium that will allow businesses to make ends meet and turn a profit while we cannabis consumers continue to be able to enjoy bargain prices on good weed.
And that's what's up in Colorado.
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This doesn't surprise me. It is supply and demand and, without the cops raiding people's grows, supply is way up.
Even more interesting than the situation in CO, is what's going to happen in Massachusetts; legalization just occurred for us recently, though they are very, very, slow on the uptake. It concerns me that if prices are going down in the states that already have recreational dispensaries, then, what will happen in states where the prices of everything are higher than the average? I'm still learning about cannabis; all my friends do it, though I've never found the right time to share with them. That will come, hopefully soon.