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BOSTON (WBZ NewsRadio) — Prices of recreational cannabis have plummeted to new lows in Massachusetts. The state Cannabis Control Commission says the price of a gram of cannabis flower is averaging $7.76 in the most recent numbers from October. That's about half of last year's peak prices ($14.24 a gram) and is a 43% decrease from last October.
Weed prices have cratered over the past year, in a trend beginning in the spring of 2021. Part of the reason behind the trend may be a boom in newly-opened marijuana businesses. Commission numbers show there were about 220 approved licenses for businesses in 2018 and 2019 — more than 900 have been approved since then.
Sales have remained relatively steady, with the state clearing between 110 and 130 million dollars a month in total cannabis sales.
WBZ's Shari Small (@ShariSmallNews) has more:
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