Hitting bottom: Massachusetts recreational marijuana prices plunge as market reaches saturation point

Similar to Colorado, Michigan, Oregon and Washington, there is so much cannabis on the market in Massachusetts that demand is not keeping up with supply, causing prices for several strains to drop 50 percent since this time last year. According to the Massachusetts Cannabis Control Commission, the average retail price per gram of marijuana was $7.76 in October, the most recent month for which sales data are available. That's down sharply from a year ago when a gram cost $14.38. Massachusetts began recreational marijuana sales in late 2018, and the difference compared to Michigan is that prices appear to be dropping more quickly. In terms of wholesale cannabis flower prices, a pound sells for between $800 and $1,500, down about 50 percent from a year ago.

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