Gov. Michelle Lujan Grisham on Friday struck down the first alcohol tax increase in 30 years meant to address a public health crisis that claims thousands of New Mexican lives a year. Lujan Grisham’s veto came as a surprise to state lawmakers. During weeks of negotiations with the governor’s office and each other during the […]
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Can Cape Cod Local Dispensaries Survive Plummeting Prices?
What to know about Cannabis on Cape Cod
in Massachusetts in 2016, but it was two years before the first retail shop opened in 2018. That year the state saw a modest $5.6 million in sales.
Now, the $4 billion industry, built largely on the backs of small, local retailers, is facing growing pains. As wholesale cannabis prices drop in Massachusetts, adult-use retailers face an alarmingly rapid decrease in profitability.
Lower Cape TV spoke with state
and
owner Zachary Ment, to discuss the challenges facing small, locally-owned-and-operated businesses in the industry.
For Lower Cape News coverage of Cannabis on Cape Cod over the years
Check out our Cape Cod Cannabis Guide Here.
For an in-depth look at the difficult business of starting a marijuana dispensary on Cape Cod, watch our
with Piping Plover owner Zachary Ment
.
How Much Has the Cost of Marijuana in Massachusetts Dropped?
Prices in Massachusetts remain stable between late 2018 and early 2021, with the average monthly retail price consistently exceeding 14 dollars per gram, according to the state’s cannabis Control Commission.
Prices underwent a slow but steady decline throughout most of 2021 before dropping dramatically throughout 2022. According to the commission the average retail price of recreational Cannabis hit an all-time low this January at $7.12 per gram
In comparison the commission reports the average retail price in January 2021 was $14.20 per gram.
This means prices for recreation cannabis in Massachusetts have fallen by about 50% over a two-year period.
What Cape Cod Dispensary Closed Down?
The Outer Cape has already seen one of its adult use dispensaries closed for good in 2023, when
in
shut up shop for good this winter.