Legal cannabis in Oregon is the cheapest of the legalized states with an ounce of “high-quality” flower costing an average of $210.75, according to an Oxford Treatment Center study. In Washington, an ounce of high-quality cannabis costs, on average, $232.90, while an ounce is $241.74 in Colorado.
Massachusetts has the highest price for legal states with a taxed-and-regulated market at $341 per-high-quality-ounce, followed by Alaska at $298 per-ounce and Nevada at $270 per ounce.
Among states that have legalized cannabis for adult use but have yet to roll out a regulated industry, Vermont’s average of $346 ranks first, followed by Michigan at $290 per ounce. Washington, D.C. – which has legalized cannabis for adults but does not have a regulated industry – has the highest price in the U.S. at $597.88 per ounce. Lawmakers in Vermont are considering regulation legislation while voters in Michigan approved legalization in 2016 but retail sales have yet to roll out in earnest.
The individual state trends are representative of the prices for “medium-quality” cannabis and the cost of a joint (.66 grams), the report shows.
According to the report, the national average for an ounce of high-quality cannabis is $326 including both legal and illegal markets. The average price for medium quality is $266 per ounce, and the average cost of a joint is $7.59 for high quality and $6.18 for medium quality.
In February, the Oregon Liquor Control Commission reported that the state has 6.5 years of cannabis stock oversupply and the state produced 4.4 million pounds of flower between July 2017 and June 2018. The overstock is the likely cause for the low prices in the state.
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TG is a journalist by trade and has covered cannabis industry news