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US (OK): Medical cannabis prices fall amid continued oversupply

Medical cannabis cardholders have likely noticed many cannabis products are much, much cheaper than they were a year ago.

Due to continued oversupply from growers and an apparent plateau of customers, the wholesale and retail value of cannabis has fallen dramatically in recent months. It's squeezing some business owners who are struggling to work within tighter profit margins, and raises the potential for further black market activity, some law enforcement officials said.

"Last year, (flower was) at $2,000 a pound, and now they're at $1,000 to $1,500 a pound," said Lasi, who recently expanded his wholesale cannabis business, Argent Cannabis, to Oklahoma City.

It's had an effect not only on the price paid at the cash register, but it's also tempered the dramatic rise in state revenue collections for medical cannabis.

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