Michigan Cannabis Prices Hit All-Time Low of Less Than $80 Per Ounce – Ganjapreneur | How to buy Skittles Moonrock online

According to a report, the price of retail cannabis has dropped to record lows in Michigan. The average cost of an ounce cannabis flower in July was $79.70. Crain’s Detroit Business report.

Cannabis prices have risen dramatically in recent years Michigan Adult-use products prices have dropped nearly 14.5% since late last year, following enforcement actions against illegal operators. The previous record low price for cannabis flowers. Set in January 2023, was $80.16 an ounce.

The report stated that the price deflation this year could be attributed multiple factors, including an oversaturated industry, price compressions as the industry prepares to harvest outdoor cultivators’ crops in “Croptober”, and the ongoing competition from unregulated suppliers.

“I am getting more and more indoor farms come to me, trying to get on our shelves. They are offering low prices to do this. They are still selling the crop from last year and are selling it for $250 to $300 per pound. This is what’s causing the price compression. They must clear their pipe to receive another 50,000 pounds [of outdoor product] “Hit their facility” — Eric Klar Quality Roots Crain’s Detroit Business via CEO

The Great Lakes State’s total cannabis sales reached $268.4 millions in July, just slightly behind the state’s previous monthly sales record of 286.6 million dollars, which was set when Michigan became legal. California is no longer the leader in the US. Since the legalization of cannabis in California, there has been a monthly increase in sales.

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