MJBizMag February 2023 - 23

INDUSTRY DEVELOPMENTS
Massachusetts
Oversupply has caused regulated cannabis prices across several sectors to fall by up to 50%.
According to the Massachusetts Cannabis Control Commission, which regulates marijuana in the
state, the average retail price for flower per gram averaged $7.76 in October, down from $14.38 for a
gram of flower in October 2021.
Sources in the state say that wholesale flower and cannabis oil for infused products and extracts are
showing a similar sales pattern, which has happened in several other recreational marijuana markets.
The trend: Prices start high for cannabis companies in the early years, and then, as production
capacity ramps up, the market becomes glutted and prices plummet. This seems to be happening more
rapidly in Massachusetts.
" In the last six months we've seen a dramatic reduction in both wholesale and retail pricing, " said
Brandon Pollock, CEO of Theory Wellness, based in Stoneham.
" For a couple of years in Massachusetts we were undersupplied in the market. It has certainly
slipped to where it appears there's an oversupply. "
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MJBizMag February 2023

Table of Contents for the Digital Edition of MJBizMag February 2023

MJBizMag February 2023 - 1
MJBizMag February 2023 - 2
MJBizMag February 2023 - 3
MJBizMag February 2023 - 4
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MJBizMag February 2023 - 6
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