Cannabis dispensaries are convenient because they’re legal and offer a wide selection, but they’re often more expensive than your illicit drug dealer.
A new study by LeafLink, a wholesale marketplace for the cannabis industry, sheds some light on the costs of marijuana at legal dispensaries. Of the 10 states in the Wholesale Cannabis Pricing Guide, Michigan had some of the highest wholesale prices in 2019 for marijuana products, including flower, cartridges, and edibles.
Wholesale prices are what dispensaries pay for their products. On average, the pot shops set retail prices 64% higher to make a profit, according to LeafLink.
Prices are lowest in states with the most mature markets and product over-saturation, such as Oregon and Washington.
Michigan’s wholesale price for edibles — $0.79 for a milligram — was higher than the other nine states in the study: Alaska, Arizona, California, Colorado, Maryland, Nevada, Oklahoma, Oregon, and Washington. Edibles also provided the lowest profit margins for Michigan dispensaries, LeafLink concluded. [Read more at Detroit Metro Times]