Where Is Weed Cheapest And Most Expensive In The US?

By Nicolas Jose Rodriguez

In a current expert note, Cantor Fitzgerald expert Pablo Zuanic examined the market price distinctions in marijuana flowers throughout 14 states (6 with leisure and medical sales, and 8 with medical-only sales).

The variety, from most affordable to greatest, was as follows:

  • Connecticut was $9.75 per gram (the entire flower, taking 3.5 g formats);-LRB-
  • Florida $1197;-LRB-
  • New York $1370;-LRB-
  • Ohio $1383;-LRB-
  • Maryland $1389;-LRB-
  • New Jersey $1495;-LRB-
  • Pennsylvania $1562;-LRB-
  • Virginia $1860
massachusetts will finally have legal marijuana sales by end of month
Photo by Ethan Miller/Staff/Getty Images

Why Is Cannabis So Cheap In Connecticut?

Retail costs differ commonly throughout the medical markets, with Virginia boasting double the levels discovered in Connecticut.

” The CT example is unexpected, and we ensured to leave out 2nd cuts and grind. There are just 4 certified growers in CT, and just 17 medical dispensaries opened at present. It appears materials are numerous relative to require. We state this since the 5 shops that we surveyed in CT had actually an integrated 246 SKUs of flower in 3.5 g formats, which is well above the majority of the other medical states that we surveyed ex PA and MD (NY 22; FL 82; VA 88; OH 171; NJ 239; PA 427; MD 516). The lower costs might be reflective likewise of the quality offered,” Zuanic composed.

Florida Weed Is Cheap Too

Excluding CT, FL had the most affordable flower rates amongst the medical market research by Cantor.

Zuanic presumes this is partially associated to the increased cost competitors in the state, although it does not have historic information to utilize as a criteria.

” The state has 391 shops, which is the greatest amongst the medical states that we surveyed; at 18 shops per 1 million individuals, FL is above MD (16), PA (11), OH (5 ), CT (5 ), NJ (2.7 ), NY (2.1 ), and VA (0.7 ). We do not believe the increased shop count always and entirely discusses the lower costs; it most likely likewise relates to increased capability and slower development in the state program’s client count (+3,000 each week vs. +5,000/ week in 2Q),” Zuanic described in the report.

Middle Of The Road

New York, Ohio, and Maryland remain in the very same rate variety ($1370-$1390). He kept in mind that costs are comparable in Maryland and Ohio, although the MD market is more industrialized ($550 Mn pa vs. $390 Mn), with more sales, shops, and SKUs.

Zuanic discussed that in NY, the legal market needs to take on a big illegal market, which he believes, describes NY rates being 26% listed below VA (a state that likewise just recently authorized the sale of the entire flower).

cannabis sales
Photo by Michele Ursi/Getty Images

RELATED: How Some Consumers Avoid Paying High Taxes For Recreational Marijuana

” NY simply started offering entire flowers, however products stay limited. Yes, there are 40 med shops in the state, however we just counted 22 entire flower SKUs in the 5 shops surveyed (the 5 MD shops we surveyed had >500).”

New Jersey And Pennsylvania

Zuanic quotes New Jersey’s medical sales at $375 million on an annualized basis, while Headset approximates Pennsylvania’s at $1.18 billion per year. About 3% of the PA population are active clients compared to 1.3% in NJ.

Zuanic discovered medical rates in PA to be the greatest (for flower) amongst the medical states other than for VA. He noted this “shows a lively med market in PA for quality entire flower (pop penetration).”

RELATED: These States Have The Highest Cannabis Sales Taxes In America

Zuanic likewise kept in mind that the medical market in New Jersey has actually not established much on the need side, which paired with a big illegal market, “most likely describes NJ costs being well listed below VA.”

” Despite more products, and more shops (139 vs. 23), PA’s costs remain in line with NJ,” included the expert.

Illinois And Massachusetts: The Highest Prices Across Recreational States

According to Cantor’s study, IL entire flower rates are $1841 per gram, practically 2x the costs in CO ($ 9.33/ g); in a comparable variety with MI at $1218, CA at $1251, and NV at $1271

MA is the 2nd greatest after IL, with costs of $1489 “IL does not rank above MA or MI in per capita invest (IL $141, MI $181, MA $237), however we believe couple of shops and obviously tight products vs. other markets, both discuss the greater costs,” clarified Zuanic.

cannabis industry
Photo by colnihko/Getty Images

RELATED: Forget High Grade Marijuana, Consumers Just Want Cheap Weed

Although MA wholesale rates are 11% lower than IL, list prices are ~20% lower, most likely due to a greater shop count in MA. “Based on the main state information, IL now is at a yearly run rate of $1.79 billion in leisure and medical sales” while “MA is at $1.63 billion.”

Other States

The Virginia medical market remains in the early phases. “There are just 6 dispensaries opened, and we approximate the existing client count at just 35,000(0.4% population penetration). That stated, although SKU counts are listed below other states, the average of 18 entire flower 3.5 g SKUs per shop in VA is well above the 4.4 average of NY. We believe the greater rates vs. NY are described mainly by the bigger illegal market in NY.”

NV is a more segmented market. “In NV we surveyed 5 shops, with AYR Las Vegas having a typical cost of $1126 vs. $1240 for Reef Las Vegas, and the other 3 shops with rates above $1360(MedMen LV, Curaleaf LV, Rise Carson City). We believe NV might be a more section market at retail (in regards to rate variety).”

This post initially appeared on Benzinga and has actually been reposted with approval.

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