As Wholesale Marijuana Prices Drop Edibles and Concentrates Gain Popularity

As Wholesale Marijuana Prices Drop Edibles and Concentrates Gain Popularity

Harry Lyons

During the last few years, many states have loosened up their laws regarding marijuana. In 2014, Colorado and Oregon were the first two states to legalize and open up the market for recreational weed. Since then, many other states have jumped on the bandwagon and change their laws to be stoner friendly. 
 
According to High Times Magazine, the reason wholesale marijuana prices are bottoming out is "simple economics." The longer marijuana is legal, the more competition and more mass production operations pop up making prices steadily drop. According to the Cannabist Magazine, in January 2018 wholesale marijuana prices in Colorado reached a historic low when the prices fell to around $1,200 a pound down from its three-year high price of about $2,000. Also in January, Cannabis Business Times, reported that wholesale marijuana prices across the country dropped 10% in one week. 
 
Experts expect this trend to continue in the future, but what does this mean for the market and the average user? Recently. due to the increase in mass marijuana production, it is becoming easier to make different products that contain marijuana and its active ingredients. Many users are slowly switching from smoking basic hippie grass in pipes, bongs, and joints to enjoying the product in edibles or a concentrated form. 
 
According to Engadget.com "concentrates are the future of cannabis." The increase in production and advancing technology is making it easier to produce concentrates that can reach over 90% THC concentration compared to normal weed or "flower" concentrations of around 20%. Concentrate production is causing THC concentrates such as hash or "ear wax" to slowly become more valuable and more sought after than marijuana flower. 
 
According to Vanessa Haakernson, owner of a marijuana dispensary near Colorado Springs, Colorado, the decrease in marijuana prices has done nothing but help her business. "The price drop has allowed me to provide lower prices to my customers," Haakenson said. "It has also allowed me to grow my supply of THC concentrates and edibles, which is where I feel the marijuana market is going." Haakenson went on to say that she has seen an increase in demand for products other than marijuana flower over the last couple of years. 
 
So, unless you are a marijuana entrepreneur or plan to jump into the highly competitive industry, the marijuana price drop is good news. Low wholesale marijuana prices not only make it cheaper to pack that blunt but it creates many more options to enjoy the herb.