Missouri medical marijuana prices are dropping, and that’s a good thing. The biggest driver of the drop in prices—and why we’re going to see an increase in quality—is the decreased cost associated with the Missouri recreational marijuana program.
A new report from Marijuana Business Daily shows why Missouri medical marijuana prices are dropping. The report shows that the number of patients in the state has been steadily growing, with an estimated 1,000 more patients registered in the state than last year. The number of licensed dispensaries has also grown to 136, up from 94 in the same time period. Another nine new dispensaries are expected to open in the state this year.
The cost of medical cannabis in Missouri is dropping.. Read more about dispensary prices vs street prices and let us know what you think.
One eighth of an ounce of flower cost $60 when Fresh Green, Kansas City’s first medical marijuana shop, debuted in October. After almost ten months, the identical product is now available for as little as $40.
As more manufacturers, growers, and dispensaries operate in Missouri, medical marijuana prices have been falling. As the market expands, industry insiders predict that the cost of cannabis will continue to fall.
In 2018, Missouri voters decided to legalize medicinal marijuana. Since then, the state has issued licenses to 193 dispensaries, 59 growers, and 86 manufacturers, but not all of them have yet opened. However, as the business gained traction, shortage of goods led to increased pricing.
“Certainly, when shops first started here, we anticipated the pricing would be higher and the choices would be more limited,” said Jack Cardetti, a spokesperson for the Missouri Medical Cannabis Trade Association. “However, those patterns are reversing with each passing week.”
Consumers now have access to more goods than ever before, as well as cheaper prices. When the first dispensaries in the region opened, they exclusively sold flower. They now offer a wide range of products, including edibles and cartridges.
Clovr was the first manufacturer in Missouri to be up and operating. More efficient procedures, greater cultivators, and more competition have all contributed to reduce costs since the company’s inception.
“When you’re the only gummy, you can sort of hope you set the right price,” Bethanie White, Clovr’s director of marketing, said. “However, when additional rivals enter the market and their gummies are two or three dollars less than yours, you must stand back and ask, ‘OK, are we with the market, or where we should be with the market?’ Keeping expenses and other factors in mind.”
Cardetti believes that certain items are 25% cheaper now than when the clinics initially opened, but other customers haven’t seen much of a difference.
“I can’t say I’ve seen drastic drops yet,” Cari Tornatta, community engagement administrator for Third Street Dispensary, said. “But I think we’re at the tipping point where we’re starting to get enough supply and product around the state that it’s looking good for everyone that it’s going to normalize pretty soon.” “I believe everyone was thinking, ‘Man, we’d love to see some better prices,’” says the author.
Customers have started to realize that they are receiving more marijuana for their money, even without significant increases.
“(Patients) are relieved that they would not have to spend $65 for an eighth.) They’re pleased that they’re receiving high-quality cannabis at a price that’s comparable to established markets like Colorado, according to Corey Martin, Kansas City Cannabis’ director of communications. “Having fair pricing is simply common sense for both the company and the patient.”
As additional facilities come online, those costs should continue to drop, trickling down from the growers to the consumers.
“The ultimate objective is always going to be to provide an inexpensive product for the patient,” White added.
Prices for medical marijuana in Missouri have been dropping steadily over the last year or so due to the fact that Kansas City is the “first” in the state to have a licensed grower, who has taken customers from Kansas City’s other two companies. This has led to a significant drop in prices.. Read more about missouri dispensary list and let us know what you think.
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