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Where Is Weed Cheapest And Most Expensive In The US?

By Benzinga Staff Writer, The Fresh Toast on

Published in Cannabis Daily

Zuanic also noted that the medical market in New Jersey has not developed much on the demand side, which coupled with a large illicit market, “probably explains NJ prices being well below VA.”

“Despite more supplies, and more stores (139 vs. 23), PA’s prices are in line with NJ,” added the analyst. Illinois And Massachusetts: The Highest Prices Across Recreational States According to Cantor’s survey, IL whole flower prices are $18.41 per gram, almost 2x the prices in CO ($9.33/g); in a similar range with MI at $12.18, CA at $12.51, and NV at $12.71.

MA is the 2nd highest after IL, with prices of $14.89. “IL does not rank above MA or MI in per capita spend (IL $141, MI $181, MA $237), but we think few stores and apparently tight supplies vs. other markets, both explain the higher prices,” clarified Zuanic.

Although MA wholesale prices are 11% lower than IL, retail prices are ~20% lower, probably due to a higher store count in MA. “Based on the official state data, IL now is at an annual run rate of $1.79 billion in recreational and medical sales” while “MA is at $1.63 billion.” Other States The Virginia medical market is in the early stages. “There are only six dispensaries opened, and we estimate the current patient count at only 35,000 (0.4% population penetration). That said, even though SKU counts are below other states, the average of 18 whole flower 3.5g SKUs per store in VA is well above the 4.4 average of NY. We think the higher prices vs. NY are explained mostly by the larger illicit market in NY.”

NV is a more segmented market. “In NV we surveyed five stores, with AYR Las Vegas having an average price of $11.26 vs. $12.40 for Reef Las Vegas, and the other three stores with prices above $13.60 (MedMen LV, Curaleaf LV, Rise Carson City). We think NV may be a more segment market at retail (in terms of price range).”

 

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

The Fresh Toast is a daily lifestyle platform with a side of cannabis. For more information, visit www.thefreshtoast.com.

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