Too Much of a Good Thing? Colorado Pot Glut Prompts Wholesale Price Plunge
Colorado's green goldrush is turning into something of a bummer for some would-be marijuana-growing mavens, as an oversupply of pot is causing wholesale pound prices for the state's booming recreational market to drop dramatically. But with retail prices not following suit, it's pot shops, not consumers, who are making bank on the price drop.
The wholesale price is the price paid to growers by pot shops, edibles manufacturers and others.
According to Cannabase, an online wholesale marketplace, the average monthly asking price per pound for wholesale buds has declined by a full third so far this year. In January, the average price was $2,106 per pound; by June, it was $1,402.
In a further sign of distress in the wholesale weed market, the lowest monthly asking price fell even more dramatically, from $1,800 in January to $750 in June.
Producers who are selling pot for $750 a pound are probably...
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