Edmonton, May 28-30, 2023

Due to the numerous requests from LPs. Micro and Craft growers along with some of the largest cannabis retail stores in the nation, Grow Up has decided to bring our award winning show to Alberta. We will be hosting our 7th Conference and Expo at the Edmonton Convention Centre in beautiful downtown Edmonton.

How much does cannabis cost in the U.S.?

Nov 9, 2022 | Media Partners, The GrowthOp

This post is presented by our media partner The Growth Op
View the original article here.

Everything from the illicit market to increased competition in established legal markets contributes to the low price of cannabis today

Article content

The rise of inflation and increasing prices feels inescapable right now and increased costs seem embedded in everyone’s mind. For those who enjoy cannabis recreationally, or rely on its medicinal benefits, the talk of rising prices may have users worried about the price of weed.

Advertisement 2

Story continues below

Article content

But the price of cannabis is not rising with the rate of inflation. In fact, it is reaching astonishing lows in some cases.

Article content

Per Cannabis Benchmarks’ recent U.S. Cannabis Spot Index, “Both Colorado’s and California’s spot prices for wholesale flower fell to new all-time lows this week with the outdoor harvest yet to come to market in full force.”

  1. Why Tobacco Prices Are Rising While Weed’s Are Dropping — And What That Means For You

  2. OPH recommends maintaining the current limit on edibles and extracts and would like to see the feds expand requirements for plain packaging and labelling for cannabis products. /

    Ottawa Public Health to issue recommendations to feds regarding the Cannabis Act

  3. RCCO suggests the entire system would be strengthened by, among other things, adopting more diversified supply options, providing retailer support and removing same-day delivery from OCS. /

    Cannabis retailers urge OCS to give up same-day delivery

These price dips may have consumers wondering what is going on in the cannabis market. More importantly, it might inspire wonder regarding how much weed costs these days, exactly.

Advertisement 3

Story continues below

Article content

The answer, though, is a bit tricky, mostly because it is still illegal on a federal level in the U.S. Each state sets its own cannabis policies, and, in turn, the price of marijuana varies from state to state.

On average, according to OxfordTreatment.com, the national average for an ounce (28 grams) of high-quality weed is currently US$326, medium quality is US$266 and the national average price of a joint is US$7.59.

Even so, prices are unlikely to rise in the next few months, and could even drop further overall. But this, of course, all depends on where a consumer happens to live. Perhaps the best question to ask in these uncertain economic times is where cannabis is the most expensive and where it’s the cheapest.

Advertisement 4

Story continues below

Article content

Where is cannabis most expensive?

Topping the list as the most expensive place to buy weed in the U.S. is Washington D.C., where, according to OxfordTreatment.com, an ounce of high-quality cannabis is US$597.88.

Next on the list is North Dakota, where an ounce of the same weed costs US$383.6, followed by Virginia, where it costs US$364.89.

“These are places where marijuana use is somewhat restricted: In D.C. it is illegal to purchase, in North Dakota it’s only legal for medical use, and in Virginia it’s not legal at any level,” according to the same site.

In even simpler terms, while a joint on average costs US$7.59, in the nation’s capital, a buyer is likely to pay almost double, at US$13.92 a pop.

Where is cannabis cheapest?

Advertisement 5

Story continues below

Article content

What most weed enthusiasts are really after is knowing where they can find the cheapest good weed in the country. If that’s the case, head West.

The state with the lowest price for quality cannabis is Oregon, where, according to the Oxford Treatment data, an ounce of high-quality marijuana will cost you just US$210.75. The second cheapest state to buy cannabis is Washington. And third on the list is Colorado, where an ounce of high-quality bud is US$241.74.

All three of these U.S. states have both legal medical and recreational weed.

The markets are well-established in these states, as is the industry competition. This means there is ample supply and competition, which likely contributes to these lower rates for quality cannabis.

Advertisement 6

Story continues below

Article content

Why the price of cannabis is falling 

One statistic that puzzles some who follow cannabis prices is why it has dropped amidst the inflationary times of 2022.

According to Andrew Livingston, director of economics and research at the Denver-based cannabis law firm Vicente Sederberg LLP, there are several reasons for this.

These include “heavy competition within the regulated market, high taxation rates, the undercutting of prices by illicit or unregulated operators, including street dealers, and the natural growing pains that come with running a business in uncharted territory,” Livingston told CNN.

Everything from the illicit market to increased competition in established legal markets contributes to the low price of cannabis today. Also, unlike products whose prices are skyrocketing, cannabis is still illegal on a federal level, and, therefore, not regulated the same way.

Advertisement 7

Story continues below

Article content

As Zoë Plakias, an assistant professor of agricultural, environmental and development economics at Ohio State University told Courthouse News Service, “If restrictions on the sale of cannabis were lifted, if cannabis was legalized at the federal level, and we saw trade across states, I think we’d see cannabis look much more like other types of markets.”

Until that day, the price of cannabis will likely be more unpredictable and susceptible to many other factors.

The FreshToast.com, a U.S. lifestyle site that contributes lifestyle content and, with their partnership with 600,000 physicians via Skipta, medical marijuana information to The GrowthOp.

We’d love to hear from you. Get in touch with feedback and story tips at thegrowthop@postmedia.com

Advertisement 1

Story continues below


Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

This post was originally published by our media partner here.

Grow Up – September 11-13, 2022
Niagara Falls Convention Centre, ON

News from Grow Up Media partners