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Home / News / Wholesale Marijuana Prices Are Plunging in the U.S. — Here’s Why

Wholesale Marijuana Prices Are Plunging in the U.S. — Here’s Why

By Sean Williams

You may not realize it, but the marijuana industry has come a long way in the United States in a relatively short period of time. In 1995, not a single state had approved the use of cannabis in any capacity and Gallup’s survey showed that only 25% of respondents favored the idea of legalizing weed nationally.

Fast forward to 2018, and we now have 29 states that have legalized marijuana in some capacity, including nine that have OK’d the sale of recreational pot, and Gallup’s latest poll (October 2017) found an all-time high 64% of respondents support legalization. That’s quite the about-face. […]

But what’s been really interesting about the expansion of the U.S. legal cannabis industry at the state level is what’s happening to wholesale cannabis prices. According to Denver-based independent price-reporting agency Cannabis Benchmarks, which developed its own price-tracking model for marijuana in legalized states across the U.S., wholesale marijuana prices are plunging — and they show little sign of slowing down.

Read more at The Motley Fool

 

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