Nevada Growers Say a “Flood” of Mid-Grade Cannabis Is Lowering the Price of Pot

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Like
most
tourist
destinations,
the
Las
Vegas
strip
is
home
to
its
fair
share
of
hustles,
rip-offs,
and
scams.
At
local
dispensaries,
though,
the
wholesale
price
of
weed
is
going
down.
But
is
Nevada’s
new
discount
dank
anything
more
than
smoke
and
mirrors?



According
to
a
new
deep
dive
from



Marijuana
Business
Daily
,
the
average
price
of
legal
cannabis
in
Nevada
dropped
to
$2,000
per
pound
at
the
beginning
of
2020,
down
from
as
high
as
$2,800
just
one
year
ago.
As
the
local
industry
continues
to
see
more
large-scale
growers
come
to
market,
operators
have
seen
prices
lower
steadily,
despite
record
tax
revenue
and
strong
demand.

“There’s
huge
demand
for
flower,”
Trip
Hoffman,
chief
operating
officer
of
Body
and
Mind,
a
vertically-integrated
Nevada
cannabis
business,


told



MJBizDaily
.

But
while
there
has
been
a
recent
influx
of
weed
to
Silver
State
dispensaries,
industry
insiders
interviewed
by
MJBizDaily
repeatedly
noted
that
the
wholesale
and
retail
price
for
top
shelf
craft
bud
has
remained
high

at
$3,000
a
pound
or
more.
Still,
the
state
is
now
seeing
significant
increases
in
the
amount
of
cheap
mid-grade
and
low-grade
flower
available. 

“Those
who
can
produce
desirable,
shelf-grade
cannabis…
are
selling
out
as
fast
as
they
can
make
it,”
Chris
Wren,
vice
president
of
operations
at
Nevada’s
Planet
13,


said
.

Hand-trimmed,
perfectly-manicured
weed
with
desirable
strain
names
and
sky-high
THC
levels
is
still
bringing
in
big
bucks,
but
the
current
$3,000-a-pound
price
tag
is
still
significantly
lower
than
it
was
last
year,
when
the
same
weed
was
fetching
about
$3,800
per
turkey
bag.
Outside
of
quality
shifts
in
the
flower
itself,
local
experts
predict
that
the
pricing
changes
could
also
be
a
result
of
muddied
state
regulations.

Last
year,
Nevada
implemented
a
new
set
of


pesticide
tests

to
assure
consumer
safety,
but
those
additional
product
screenings
resulted
in
high
costs
for
local
cultivators.
At
Body
and
Mind,
Hoffman
said
that
the
new
tests
resulted
in
a
$200-300
bump
in
wholesale
pricing. 

According
to
one
Nevada
grower,
the
price
drop
is
a
direct
result
of
a
“flood”
of
mid
and
low
quality
bud,
offsetting
the
state’s
still-thriving
craft
weed
market.
So
while
Vegas
tourists
can
now
find
cheaper
pre-rolls
and
vape
cartridges
in
Sin
City,
they’re
not
going
to
get
the
stickiest
of
the
icky
unless
they’re
paying
top-shelf
prices. 


Follow
Zach
Harris
on




Twitter

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