Comment of the Day

Reader: What Did You Think Would Happen When Other States Legalized?

Colorado marijuana prices have dropped to their lowest point since recreational pot sales began in 2014, according to the state Department of Revenue. The DOR's average market rates (AMR) for wholesale marijuana are released every quarter. Despite including "average" in the name, the AMR actually measures median prices of various wholesale marijuana categories, including flower, trim and plant matter allocated for extraction. Two of those categories are now lower than they've been since the DOR began tracking such data.

The most recent AMR report shows marijuana flower sitting at $658 per pound, about 7 percent less than the AMR of $709 released in June — the previous record low. And trim allocated for extraction and infused products slid to $76 per pound, the lowest point since the category was first tracked in 2018, and a 37 percent drop from the previous low of $120.

Colorado marijuana businesses registered a different record low earlier in the week, when the DOR released monthly dispensary sales figures that showed medical marijuana sales totaled $18.3 million in July 2022, the lowest monthly total since Colorado began tracking sales numbers in 2014. In comments on the Westword Facebook post of the story about the drop in prices and sales, consumers have plenty to say. Suggests Donatella:
Quality dropped 62 percent too!
Adds Josh:
Quit growing boof! Connoisseur cannabis has not lost its value at all... better ask somebody.
Asks Tiffany: 
What did they think would happen once everyone else legalized?The demand isn't high here pun intended. But why would Joe and Jessica come from PA to CO to get weed, when it's now legal in PA? Weed vacations aren't happening like they were ten years ago, because people don't have to travel 2,000 miles to get weed anymore
Recalls Matthew: 
 As a medical patient long before the green rush, I knew this market would eventually level out. The greed that entered the realm of herb was hard to watch. I was being treated for cancer and used to get incredible deals per month from caregivers. They threw us under the bus when everything went rec.
Suggests Kamren:
Why the whole industry in Colorado is going to shambles: Selling pounds for cheaper than you make them isn't how you make money.
Responds Geordy:
Free market pricing.
Says Steve:
Exactly what the government legalization proponents wanted.
Concludes Phil:
It's called "Race to the Bottom" economics, and it's made working in the industry nearly impossible for anyone besides owner/operators.
What do you think of the current state of Colorado's cannabis industry? The quality of the product? The prices? Post a comment, or share your thoughts at [email protected]