Friday, February 3, 2023
MJ News Daily
  • Home
  • Popular Weed Strains
  • Best Feminized Seeds
No Result
View All Result
  • Home
  • Popular Weed Strains
  • Best Feminized Seeds
No Result
View All Result
MJ News Daily
No Result
View All Result
Home Cannabis News

This Is Causing Prices To Drastically Plummet In Legal States

MJ News Daily by MJ News Daily
December 27, 2022
in Cannabis News
0
Does The Cannabis Industry Pay A Living Wage? Depends On Who You Ask
1
SHARES
13
VIEWS

RelatedPosts

Snoop Dogg’s Death Row Cannabis reviewed

February 2023 Leafly HighLight: Cereal Milk weed strain

Weed glut has become pervasive in many legal states, causing the price of weed to plummet drastically. The problem is pronounced in New York where about 300,000 pounds of weed were produced this year, anticipating the rolling out of the recreational market.

When weed is stored for too long, the buds start to break down, causing the weed to lose value.

marijuana money
Photo by OlegMalyshev/Getty Images

In the last two years, weed prices in Colorado have plummeted by 51%, according to a BDSA report. Wholesale prices of weed have dropped by 36% and 46% in Massachusetts and Missouri respectively.

The plight is even worse in Michigan where prices have fallen by a whopping 75% in the last two years. From a high of $400 an ounce the price now stands at about $100. Industry officials in Michigan are urging the state board to impose a moratorium on cultivation licenses to curtail the oversupply problem.

Cannabis economist Beau Whitney told Politico that the market dynamics means that cannabis businesses are “set up for failure” from the onset. To make matters worse, the industry contends against several other setbacks such as a heavy tax burden, financial and insurance services and real estate services, as well as stiff competition from the unregulated market.

Even as the industry continues to suffer endless miseries,  there seems to be one winner in all this: cannabis consumers.

This article originally appeared on MyCannabis.com and has been reposted with permission.

[Original Source]

Previous Post

Detroit Awards First Recreational Dispensary Licenses

Next Post

5 Habits For Marijuana Users To Develop In 2023

MJ News Daily

MJ News Daily

Next Post
5 Habits For Marijuana Users To Develop In 2023

5 Habits For Marijuana Users To Develop In 2023

  • Trending
  • Comments
  • Latest
Study: Medical Cannabis May Result In Less Opioid Dependence For Advanced Cancer Patients

Study: Medical Cannabis May Result In Less Opioid Dependence For Advanced Cancer Patients

August 8, 2022
The Top 6 Ways to Identify Fake Cartridges

The Top 6 Ways to Identify Fake Cartridges

August 25, 2022
Is Delta-8 THC Actually Synthetic Or Natural? (And Why It Matters!)

Is Delta-8 THC Actually Synthetic Or Natural? (And Why It Matters!)

August 26, 2022
What a first-timer should know before visiting an L.A. dispensary.

What a first-timer should know before visiting an L.A. dispensary.

October 14, 2022

The secret of Runts, fake banana terpenes, and approved solvents

0

Toke or Broke? Keeping a Job With a Medical Card

0

Got the Munchies? 5 Recipes You Can Make Right Now

0

How To Say Popular Weed Words And Phrases In Sign Language Part 2

0
Snoop Dogg’s Death Row Cannabis reviewed

Snoop Dogg’s Death Row Cannabis reviewed

February 2, 2023
February 2023 Leafly HighLight: Cereal Milk weed strain

February 2023 Leafly HighLight: Cereal Milk weed strain

February 2, 2023
5 Surprising Reasons To Add Herbs To Your Weed

5 Surprising Reasons To Add Herbs To Your Weed

February 2, 2023
Poll: Majority Support Legalization in Hawaii

Poll: Majority Support Legalization in Hawaii

February 2, 2023

Recent News

Snoop Dogg’s Death Row Cannabis reviewed

Snoop Dogg’s Death Row Cannabis reviewed

February 2, 2023
February 2023 Leafly HighLight: Cereal Milk weed strain

February 2023 Leafly HighLight: Cereal Milk weed strain

February 2, 2023
5 Surprising Reasons To Add Herbs To Your Weed

5 Surprising Reasons To Add Herbs To Your Weed

February 2, 2023
Poll: Majority Support Legalization in Hawaii

Poll: Majority Support Legalization in Hawaii

February 2, 2023

Other MJ Related Sites:

High Yields

420 Daily Newz

Recent News

Snoop Dogg’s Death Row Cannabis reviewed

Snoop Dogg’s Death Row Cannabis reviewed

February 2, 2023
February 2023 Leafly HighLight: Cereal Milk weed strain

February 2023 Leafly HighLight: Cereal Milk weed strain

February 2, 2023
No Result
View All Result
  • Home
  • Popular Weed Strains
  • Best Feminized Seeds

© 2021 MJ News Daily