It’s a great time to be a pot smoker and a challenging time to be on the retail side of the marijuana business in Michigan. According to state reports from Michigan’s Marijuana Regulatory Agency, in October 2020 the average retail price for an ounce of marijuana flower was around $288 dollars. A year later, consumers were paying under $200. By October 2022, the price was down to $109.We asked an industry expert why prices are plummeting.
Why are marijuana prices plummeting?
