Contrary to predictions by several financial institutes this year, wholesale cannabis prices in Colorado are on the rise. In early 2015, many predicted an oncoming “cannabis crash” due to the availability of growers in Colorado and the increasing number of other legal cannabis states. They figured much like a Black Friday deal, weed prices would continue to fall significantly as the market flooded with product.
However, in many locations, cannabis pricing has risen to over $3,000 per wholesale pound in some places – far higher than the earlier $1500-$1900 per pound earlier in the year and predicted to keep falling. Several quality testing organizations attribute this to a new microbial testing requirement that came into effect in October, drastically eliminating a large quantity of poor quality cannabis from the market.
Despite the current cannabis drought, pricing for cannabis products is still predicted to occur. Grow operations are opening up daily and the competition is getting fierce. Ultimately we think this is great for the market, as healthy competition helps guarantee that only high-grade cannabis is getting sold and its pricing will eventually drop too.
Are you a cannabis business looking to gain an edge on the growing competition? Get in touch with Colorado 420 Websites today!