Cannabis prices are falling across Washington, Oregon, and Colorado as supply steeply overshadows demand. In Arizona, cannabis prices are beginning to fall, too — prompting concern the Grand Canyon State might have a glut of its own.
"In the past several months, the price of flower has gone down," said Ryan Hermansky, Arizona Dispensaries Association (ADA) board president, in a statement released to Phoenix New Times. "Flower is being sold at competitive prices, and that enables well-run grows to function and be profitable."
Hermansky reports current Arizona wholesale prices ranging from $500 per pound for outdoor flower and $2,200 per pound for top-tier indoor flower. For comparison, Colorado's all-time-high price per pound was $2,007 in 2015; in July 2022, the average price was reported as $709.
Declining prices across Arizona are reflected in government data. Despite several incremental increases in transaction privilege tax (TPT) across some cities and towns in 2022, total tax revenue from Arizona cannabis sales remained relatively consistent.
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