Despite marijuana being legal in the state of Michigan, consumers are finding that the plant sold at dispensaries is a lot more expensive than from an illicit drug dealer.
According to a new study by LeafLink, a wholesale marketplace for the cannabis industry, of the 10 states in the Wholesale Cannabis Pricing Guide, Michigan had some of the highest wholesale prices in 2019 for marijuana products. This includes flower, cartridges, and edibles.
Leaflink has found that on average, marijuana shops set retail prices 64% higher to make a profit.
Oregon and Washington are among the states where prices are lowest as these states have the most mature markets and product over saturation.
Leaflink also found that Michigan’s wholesale price for edibles at $0.79 for a milligram was higher than the other nine states in the study: Alaska, Arizona, California, Colorado, Maryland, Nevada, Oklahoma, Oregon, and Washington.
Edibles also provided the lowest profit margins for Michigan dispensaries, the study said.
The LeafLink study also found that cartridges were very popular in Michigan and provided the highest profit margin for dispensaries.
