Cannabis wholesale price compression appears to have finally hit the California retail market, with at least one shop offering a $60 ounce of marijuana for sale this month.
According to New Frontier Data’s chief knowledge officer, Amanda Reiman, who lives in California’s famed Emerald Triangle, a local store called Cannavine in Ukiah recently had one such deal for customers.
Although the shop did not respond to repeated requests for comment, Reiman told Green Market Report she saw the price firsthand recently during a visit.
“That is the lowest I’ve seen,” Reiman said, though she predicted that more such prices will likely be appearing at stores in California as competition and price compression both continue as industry-wide trends.
Reiman, a longtime industry insider, said it was worth noting that the deal was for a strain that was harvested over a year ago and was likely a clearance price.
But the same store also has advertised online ounces of cannabis for as low as $78 per ounce for Origin Craft Cannabis’ Funky Charms and Gelonade strains, alongside eighths of flower ranging in price from $23 to $60.
To read more, click on Green Market Report