A quickly rising variety of marijuana plants are reaching towards high-wattage grow lights throughout Michigan.
This has resulted in slowly lowering retail costs for each medical and leisure marijuana. The value reductions come following a spike after the opening of the primary leisure marijuana retailers in December.
Nearly 8,600 kilos had been offered between the 2 markets in May alone, versus about 3,000 in January, in accordance to Marijuana Regulatory Agency monthly reporting.
“I think (prices) will continue to drop just in the short term because we do see increases in production on the adult-use side,” Marijuana Regulatory Agency Director Andrew Briso instructed MLive in June. ” … Where it settles long run, I couldn’t actually say what goes to be the value two years from now (or) 5 years from now when provide is sufficient.
“What we need to be cautious about and be wary of is what happened in Oregon … where the scale shifted and there was oversupply, because then the price kind of bottoms out.”
While the leisure market continues to grow quickly, Brisbo stated the vast majority of the leisure product continues to come from marijuana initially planted beneath medical marijuana licenses, that are extra ample. [Read more at MLive]