General Discussion

The price for an ounce of cannabis in Massachusetts plunged from $394 in 2020 to $145 in 2024, according to an analysis by the trade publication Cannabis Business Times. An ounce of weed in Michigan cost $84 in 2024, down from $419 in 2020. Maine prices dropped from $449 to $206.

Weed prices are tumbling at a time when shoppers expect to pay more for nearly everything else. Consumer prices are 24% higher, on average, than at the start of 2020, Bankrate reports.

“I’d call it a collapse,” said Ross Gordon, a policy analyst at Origins Council, a group that represents small cannabis farmers in California.

In California, wholesale cannabis once cost more than $1,000 a pound, Gordon said. “And now we’re down to maybe $250 a pound, which is below the cost of production for, certainly, the majority of small farmers.”

In the last four years, the retail price of cannabis in Massachusetts has plummeted by more than two-thirds.

An eighth of an ounce of pot, a typical purchase for the casual smoker, sold for about $50 on average in early 2021. Today, it goes for closer to $15, according to state data.