Despite the state of Maryland legalizing marijuana back in 2014, it is this year that dispensaries are starting to slowly open.
It was in December that medical marijuana regulators approved 12 new dispensaries to open in the state.
Now Maryland has doubled the amount of businesses that are allowed to sell marijuana.
Despite the businesses being open, the supply is still very low.
“Product is limited,” said Bryan Lopez, chairman of the Medical Cannabis Commission. “We expect that it will continue to be limited.”
Most of the states growers only began cultivating late this summer and there are over 18,000 people who have registered to become medical marijuana patients already.
With a low supply, naturally the price has gone up. According to Darrell Carrington who is with Greenwill Consulting Group, a cannabis industry advisory group, patients are paying as much as $480 to $680 an ounce for medical marijuana.
“The prices are going to remain relatively high because people are trying to quickly recoup their investments,” he said.
